PPP Loan Data — Harvest Bible Chapel Of Rochester, Rochester, NY
Harvest Bible Chapel Of Rochester is a non-profit organization located at 465 Blossom Rd in Rochester, New York that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Harvest Bible Chapel Of Rochester in Rochester, NY received a Paycheck Protection Loan of $25,400 through KeyBank National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Harvest Bible Chapel Of Rochester's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Harvest Bible Chapel Of Rochester reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Harvest Bible Chapel Of Rochester in Rochester, NY
465 Blossom Rd
Rochester, NY 14610
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Rochester
In the Rochester area, 13 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 2) and received an average PPP loan of $58,983 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
First Unitarian Congregational Society Of Rochester
Progressive Church Of God In Christ Inc
New Progressive Cathedral Cogic
Congregation Beth El Of Rochester NY
Congregation Bethel Of Rochester, NY
Chabad At The University Of Rochester Inc
Ny 14610, NY
Faith Temple Of The Living God
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, 500% higher than Harvest Bible Chapel Of Rochester's reported 2 employees, and received an average PPP loan of $75,298, 196% higher than this company's loan of $25,400.
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Footnotes & Information
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