PPP Loan Data — Holy Cathedral Church Of God In Christ Inc, Milwaukee, WI
Holy Cathedral Church Of God In Christ Inc is a corporation located at 2677 N 40th St in Milwaukee, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BMO Harris Bank National Association
Holy Cathedral Church Of God In Christ Inc in Milwaukee, WI received a Paycheck Protection Loan of $25,000 through BMO Harris Bank 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, Holy Cathedral Church Of God In Christ Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $8,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Holy Cathedral Church Of God In Christ Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Holy Cathedral Church Of God In Christ Inc in Milwaukee, WI
2677 N 40th St
Milwaukee, WI 53210
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 Milwaukee
In the Milwaukee area, 35 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 15) and received an average PPP loan of $78,975 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Benediction Lutheran Church
Alliance Francaise De Milwaukee
MT. Calvary Ev. Lutheran Church, Inc
Transformation City Church, Inc
Lutheran Campus Ministry In Greater Milwaukee
Church In The City Assembly Of God Inc
Bethel Bethany United Church Of Christ
ST. Mark's Episcopal Church
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, 20% lower than Holy Cathedral Church Of God In Christ Inc's reported 15 employees, and received an average PPP loan of $75,298, 201% higher than this company's loan of $25,000.
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Footnotes & Information
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