PPP Loan Data — Lakewood Church, Houston, TX
Lakewood Church is a non-profit organization located at 3700 Southwest Fwy in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $4,436,224.00 in July, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Lakewood Church in Houston, TX received a Paycheck Protection Loan of $4.44M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in July, 2020.
Based on standard PPP eligibility rules, Lakewood Church's total 2019 payroll expenses were approximately $21.29M in order to qualify for the PPP loan amount received.
Based on their reported 368 jobs retained, this equals an estimated average yearly compensation of $57,864 per employee1.
Business Information - Lakewood Church in Houston, TX
3700 Southwest Fwy
Houston, TX 77027
Religious Organizations (NAICS code 813110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-07
Similar Companies near Houston
In the Houston area, 23 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 368) and received an average PPP loan of $319,762 (compared to this company's $4.44M).
Similar Nearby Businesses Who Received PPP Funding:
Ebenezer Missionary Baptist Church
Christ Temple Apostolic Church, Inc. Of Houston, Texas
Our Lady Of Sorrows Catholic Church
Houston Christian Foundation
Upward Bound Community Development Corporation
St Peter Claver Catholic Parish
Grace Cathedral Church Of Houston, Inc.
MT Canaan Missionary Baptist Church
St. Francis Of Assisi Church
Industry PPP Comparison Statistics
Nationwide, 90,482 businesses in the "Religious Organizations" industry received a total of $7,309,297,472.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 97% lower than Lakewood Church's reported 368 employees, and received an average PPP loan of $80,782, 98% lower than this company's loan of $4.44M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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