PPP Loan Data — Florin United Methodist Church, Sacramento, CA
Florin United Methodist Church is a non-profit organization located at 7560 Florin Road in Sacramento, California that received a Coronavirus-related PPP loan from the SBA of $25,358.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Florin United Methodist Church in Sacramento, CA received a Paycheck Protection Loan of $25,358 through Interfaith FCU, 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.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Florin United Methodist Church's 2019 payroll expenses are estimated to be at least $121,718 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Florin United Methodist Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,358
Business Information - Florin United Methodist Church in Sacramento, CA
7560 Florin Road
Sacramento, CA 95828
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Sacramento
In the Sacramento area, 29 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 1) and received an average PPP loan of $143,449 (compared to this company's $25,358).
Similar Nearby Businesses Who Received PPP Funding:
Alliance For Compassion And Education Development
Cross Point Church
Tinh Xa Ngoc Thanh
Capital Christian Center
New Harvest Christian Fellowship Of Sacramento
National Hispanic Christian Leadership Confrence
Sacramento Korean Presbyterian Church
Bethel Evangelical Church In Sacramento
Bradshaw Christian School
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, 1100% higher than Florin United Methodist Church's reported 1 employees, and received an average PPP loan of $75,298, 197% higher than this company's loan of $25,358.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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