PPP Loan Data — Holy Cross Evangelical Lutheran Church, Nazareth, PA
Holy Cross Evangelical Lutheran Church is a non-profit organization located at 696 Johnson Rd in Nazareth, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:ESSA Bank & Trust
Holy Cross Evangelical Lutheran Church in Nazareth, PA received a Paycheck Protection Loan of $25,200 through ESSA Bank & Trust, 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 March, 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, Holy Cross Evangelical Lutheran Church's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Holy Cross Evangelical Lutheran Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,174
- Utilities: $5,042
- Health Care: $4,984
Business Information - Holy Cross Evangelical Lutheran Church in Nazareth, PA
696 Johnson Rd
Nazareth, PA 18064
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Nazareth
In the Nazareth area, 8 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 6) and received an average PPP loan of $82,020 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Holy Family Cath Church
Union United Church Of Christ
ST. Brigid's Episcopal Church Of Nazareth
St Johns Evangelical Lutheran Church
ST. John's United Church Of Christ
Dryland United Church Of Christ
El Shaddai Assembly Of 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, 100% higher than Holy Cross Evangelical Lutheran Church's reported 6 employees, and received an average PPP loan of $75,298, 199% higher than this company's loan of $25,200.
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Footnotes & Information
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