PPP Loan Data — Grace Fellowship Of Lakewood, Lakewood, CO
Grace Fellowship Of Lakewood is a non-profit organization located at 9210 W. 2nd Ave. in Lakewood, Colorado that received a Coronavirus-related PPP loan from the SBA of $25,027.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cross River Bank
Grace Fellowship Of Lakewood in Lakewood, CO received a Paycheck Protection Loan of $25,027 through Cross River Bank, 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 February, 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, Grace Fellowship Of Lakewood's 2019 payroll expenses are estimated to be at least $120,130.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,022 per employee1
Reported PPP Proceed Usage:
On the PPP application, Grace Fellowship Of Lakewood reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,027
Business Information - Grace Fellowship Of Lakewood in Lakewood, CO
9210 W. 2nd Ave.
Lakewood, CO 80226
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lakewood
In the Lakewood area, 25 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 6) and received an average PPP loan of $78,882 (compared to this company's $25,027).
Similar Nearby Businesses Who Received PPP Funding:
Scroll K Vaad Hakashrus Of Denver
Zion Evangelical Lutheran Church Of Denver (Wisconsin Synod)
Lakewood United Church Of Christ
New Hope Ministries Of Denver
Global Hope Inc
Miracle Of Love Community
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, 100% higher than Grace Fellowship Of Lakewood's reported 6 employees, and received an average PPP loan of $75,298, 201% higher than this company's loan of $25,027.
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Footnotes & Information
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