PPP Loan Data — Lee Street Chrisitan Reformed Church, Wyoming, MI
Lee Street Chrisitan Reformed Church is a non-profit organization located at 1261 Lee St Sw in Wyoming, Michigan that received a Coronavirus-related PPP loan from the SBA of $41,667.00 in May, 2020.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
Lee Street Chrisitan Reformed Church received a Paycheck Protection Loan of $41,667 through THE HUNTINGTON NATIONAL BANK, which was approved in May, 2020.
Based on standard PPP eligibility rules, Lee Street Chrisitan Reformed Church's total 2019 payroll expenses were approximately $200,002 in order to qualify for the PPP loan amount received.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $25,000 per employee1.
Business Information - Lee Street Chrisitan Reformed Church in Wyoming, MI
1261 Lee St Sw
Wyoming, MI 49509
Religious Organizations (NAICS code 813110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-02
Similar Companies near Wyoming
In the Wyoming area, 29 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 8) and received an average PPP loan of $245,326 (compared to this company's $41,667).
Similar Nearby Businesses Who Received PPP Funding:
Princeton Christian Reformed Church
Grand Rapids, MI
The Great Lakes District Of The Wesleyan Church
Grand Rapids, MI
Woodview Christian Church
Grand Rapids 1262, LLC
Kentwood Community Wesleyan Church
Grand Rapids, MI
Iglesia Evangelica De Restauracion Elim
Kentwood Christian Church
West Michigan Lutheran High School Association
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, 38% higher than Lee Street Chrisitan Reformed Church's reported 8 employees, and received an average PPP loan of $80,782, 94% higher than this company's loan of $41,667.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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