PPP Loan Data — Columbus Area Arts Council, Inc, Columbus, IN
Columbus Area Arts Council, Inc is a corporation located at 431 6th St in Columbus, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Financial Bank
Columbus Area Arts Council, Inc in Columbus, IN received a Paycheck Protection Loan of $25,000 through First Financial Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Columbus Area Arts Council, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Columbus Area Arts Council, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Columbus Area Arts Council, Inc in Columbus, IN
431 6th St
Columbus, IN 47201
Civic and Social Organizations
NAICS code 813410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Columbus
In the Columbus area, 5 businesses in the "Civic and Social Organizations" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 3) and received an average PPP loan of $81,680 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Sans Souci Inc
Mill Race Center Inc
The Ecumenical Assembly Of Bartholomew County Churches, Inc
Industry PPP Comparison Statistics
Nationwide, 18,550 businesses in the "Civic and Social Organizations" industry received a total of $2.6B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 20 employees, 567% higher than Columbus Area Arts Council, Inc's reported 3 employees, and received an average PPP loan of $140,085, 460% higher than this company's loan of $25,000.
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Footnotes & Information
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