PPP Loan Data — First Baptist Church Of Mclouth, Mc Louth, KS
First Baptist Church Of Mclouth is a non-profit organization located at Po Box 190 in Mc Louth, Kansas that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Union State Bank of Everest
First Baptist Church Of Mclouth in Mc Louth, KS received a Paycheck Protection Loan of $25,100 through The Union State Bank of Everest, 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 December, 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, First Baptist Church Of Mclouth's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, First Baptist Church Of Mclouth reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - First Baptist Church Of Mclouth in Mc Louth, KS
Po Box 190
Mc Louth, KS 66054
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Mc Louth
In the Mc Louth area, 6 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $17,749 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Louisburg Baptist Temple
Christ Our Savior Lutheran Church
Mclouth United Methodist Church
Mc Louth, KS
Silo Community 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, 500% higher than First Baptist Church Of Mclouth's reported 2 employees, and received an average PPP loan of $75,298, 200% higher than this company's loan of $25,100.
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Footnotes & Information
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