PPP Loan Data — ECH Wv, Inc, Huntington, WV
ECH Wv, Inc is a corporation located at 115 Cheshire Way in Huntington, West Virginia that received a Coronavirus-related PPP loan from the SBA of $46,400.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
ECH Wv, Inc in Huntington, WV received a Paycheck Protection Loan of $46,400 through Peoples Bank, which was approved in June, 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, ECH Wv, Inc's 2019 payroll expenses are estimated to be at least $222,720.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,544 per employee1
Reported PPP Proceed Usage:
On the PPP application, ECH Wv, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,800
- Rent: $11,600
Business Information - ECH Wv, Inc in Huntington, WV
115 Cheshire Way
Huntington, WV 25704
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Huntington
In the Huntington area, 22 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 5) and received an average PPP loan of $44,383 (compared to this company's $46,400).
Similar Nearby Businesses Who Received PPP Funding:
Our Lady Of Fatima Church
New Life Church
St Peter's Episcopal Church
2ND Presbytarian Church
Madison Ave Christian Church
Kellogg Independent Holiness Church Of God
Sacred Heart Catholic Church
Grace Gospel Church, Inc
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, 140% higher than ECH Wv, Inc's reported 5 employees, and received an average PPP loan of $75,298, 62% higher than this company's loan of $46,400.
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Footnotes & Information
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