PPP Loan Data — Graceriver Church, Orlando, FL
Graceriver Church is a non-profit organization located at 5826 Hoffner Ave Suite1001 in Orlando, Florida that received a Coronavirus-related PPP loan from the SBA of $25,358.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Graceriver Church in Orlando, FL received a Paycheck Protection Loan of $25,358 through Truist Bank d/b/a Branch Banking & Trust Co, 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 May, 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, Graceriver Church's 2019 payroll expenses are estimated to be at least $121,718.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,344 per employee1
Reported PPP Proceed Usage:
On the PPP application, Graceriver Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,358
Business Information - Graceriver Church in Orlando, FL
5826 Hoffner Ave Suite1001
Orlando, FL 32822
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Orlando
In the Orlando area, 24 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $51,325 (compared to this company's $25,358).
Similar Nearby Businesses Who Received PPP Funding:
Orlando Church Of Christ, Inc
Evangelical Presbyterian Church
Restorative Hands LLC
Iglesia De Dios Aroma
DGI Consulting Inc
Francisco Javier Bruno
Florida Georgia District Lcms
Castle Church Brewing Community, Inc
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, 140% higher than Graceriver Church's reported 5 employees, and received an average PPP loan of $75,298, 197% higher than this company's loan of $25,358.
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Footnotes & Information
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