PPP Loan Data — First Trinity Early Learning Center, Laurel, MS
First Trinity Early Learning Center is a non-profit childcare center located at 55 N 5th Ave in Laurel, Mississippi that received a Coronavirus-related PPP loan from the SBA of $46,900.00 in April, 2020.
The company has reported itself as a White male owned non-profit, and employed at least thirteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Community Bank of Mississippi
First Trinity Early Learning Center in Laurel, MS received a Paycheck Protection Loan of $46,900 through Community Bank of Mississippi, 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, First Trinity Early Learning Center's 2019 payroll expenses are estimated to be at least $225,120.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $17,317 per employee1
Reported PPP Proceed Usage:
On the PPP application, First Trinity Early Learning Center reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $41,300
- Utilities: $5,600
Business Information - First Trinity Early Learning Center in Laurel, MS
55 N 5th Ave
Laurel, MS 39440
Child Day Care Services
NAICS code 624410
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Laurel
In the Laurel area, 25 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 13) and received an average PPP loan of $22,613 (compared to this company's $46,900).
Similar Nearby Businesses Who Received PPP Funding:
First Trinity Early Learning Center LLC
Industry PPP Comparison Statistics
Nationwide, 132,794 businesses in the "Child Day Care Services" industry received a total of $5.53B 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 8 employees, 38% lower than First Trinity Early Learning Center's reported 13 employees, and received an average PPP loan of $41,676, 11% lower than this company's loan of $46,900.
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Footnotes & Information
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