PPP Loan Data — Christ Evangelical Lutheran Church, Roanoke, VA
Christ Evangelical Lutheran Church is a non-profit organization located at 2011 Brandon Ave in Roanoke, Virginia that received a Coronavirus-related PPP loan from the SBA of $47,010.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Christ Evangelical Lutheran Church in Roanoke, VA received a Paycheck Protection Loan of $47,010 through Pinnacle Bank, which was approved in May, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Christ Evangelical Lutheran Church's 2019 payroll expenses are estimated to be at least $225,648.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,513 per employee1
Reported PPP Proceed Usage:
On the PPP application, Christ Evangelical Lutheran Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,010
Business Information - Christ Evangelical Lutheran Church in Roanoke, VA
2011 Brandon Ave
Roanoke, VA 24015
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Roanoke
In the Roanoke area, 36 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 11) and received an average PPP loan of $64,882 (compared to this company's $47,010).
Similar Nearby Businesses Who Received PPP Funding:
Episcopal Diocese Of Soutwestern Virginia
First Evangelical Presbyterian Church
Calvary Memorial Church, Inc
South Roanoke United Methodist Church
Loudon Avenue Christan Church
Church At Grandin Village
Raleigh Court Presbyterian Church
Hill Street Baptist Church
Industry PPP Comparison Statistics
Nationwide, 123,083 businesses in the "Religious Organizations" industry received a total of $9.27B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 9% higher than Christ Evangelical Lutheran Church's reported 11 employees, and received an average PPP loan of $75,298, 60% higher than this company's loan of $47,010.
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Footnotes & Information
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