PPP Loan Data — Ghana West Africa Missions, Searcy, AR
Ghana West Africa Missions is a non-profit organization located at 2014 E Park Ave in Searcy, Arkansas that received a Coronavirus-related PPP loan from the SBA of $25,060.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Progress Bank and Trust
Ghana West Africa Missions in Searcy, AR received a Paycheck Protection Loan of $25,060 through Progress Bank and Trust, 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 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, Ghana West Africa Missions' 2019 payroll expenses are estimated to be at least $120,288.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,144 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ghana West Africa Missions reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,060
Business Information - Ghana West Africa Missions in Searcy, AR
2014 E Park Ave
Searcy, AR 72143
Other Grantmaking and Giving Services
NAICS code 813219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Searcy
In the Searcy area, 5 businesses in the "Other Grantmaking and Giving Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $16,477 (compared to this company's $25,060).
Similar Nearby Businesses Who Received PPP Funding:
Darby Warrior Support
United Way Of White County, Inc
Industry PPP Comparison Statistics
Nationwide, 9,799 businesses in the "Other Grantmaking and Giving Services" industry received a total of $1.32B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 15 employees, 650% higher than Ghana West Africa Missions' reported 2 employees, and received an average PPP loan of $134,570, 437% higher than this company's loan of $25,060.
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Footnotes & Information
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