PPP Loan Data — First United Methodist Church, Sonora, TX
First United Methodist Church is a non-profit organization located at 201 North West Water Ave in Sonora, Texas that received a Coronavirus-related PPP loan from the SBA of $25,147.00 in May, 2020.
The company has reported itself as a male owned non-profit, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The First National Bank of Sonora
First United Methodist Church in Sonora, TX received a Paycheck Protection Loan of $25,147 through The First National Bank of Sonora, which was approved in May, 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 November, 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 United Methodist Church's 2019 payroll expenses are estimated to be at least $120,706.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,088 per employee1
Reported PPP Proceed Usage:
On the PPP application, First United Methodist Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,147
Business Information - First United Methodist Church in Sonora, TX
201 North West Water Ave
Sonora, TX 76950
NAICS code 813110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sonora
In the Sonora area, 3 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 8) and received an average PPP loan of $15,155 (compared to this company's $25,147).
Similar Nearby Businesses Who Received PPP Funding:
ST. Ann Catholic 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, 50% higher than First United Methodist Church's reported 8 employees, and received an average PPP loan of $75,298, 199% higher than this company's loan of $25,147.
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Footnotes & Information
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