PPP Loan Data — First Baptist Church Of Indian Trail, Indian Trail, NC
First Baptist Church Of Indian Trail is a corporation located at 3512 Faith Church Road in Indian Trail, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,047,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First-Citizens Bank & Trust Company
First Baptist Church Of Indian Trail in Indian Trail, NC received a Paycheck Protection Loan of $2.05M through First-Citizens Bank & Trust Company, 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 June, 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, First Baptist Church Of Indian Trail's 2019 payroll expenses are estimated to be at least $9.83M.
Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $32,876 per employee1
Reported PPP Proceed Usage:
On the PPP application, First Baptist Church Of Indian Trail reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,047,900
Business Information - First Baptist Church Of Indian Trail in Indian Trail, NC
3512 Faith Church Road
Indian Trail, NC 28079
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Indian Trail
In the Indian Trail area, 34 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 299) and received an average PPP loan of $194,680 (compared to this company's $2.05M).
Similar Nearby Businesses Who Received PPP Funding:
Independence Hill Baptist Church
Lighthouse Family Church
Indian Trail, NC
St Marks Episcopal Church
Huntersville United Methodist Church In
Ramah Presbyterian Church Preschool
Lake Norman Baptist Church
Game Plan For Life Inc
Covenant Community Church Union Inc
Indian Trail, NC
Southlake Presbyterian 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, 96% lower than First Baptist Church Of Indian Trail's reported 299 employees, and received an average PPP loan of $75,298, 96% lower than this company's loan of $2.05M.
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Footnotes & Information
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