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PPP Loan Data — Life Church Operations, LLC, Edmond, OK

SBA PPP loan data, payroll data, and salaries for Life Church Operations, LLC
OK Nonprofit Organization

Life Church Operations, LLC

Entity: Non-profit Organization

Industry: Religious Organizations

Location: Edmond, OK

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Life Church Operations, LLC is a non-profit organization located at 4600 E. 2nd Street in Edmond, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $7,007,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$7.01M

Jobs Retained:

451

Loan Approved:

2020-04-07

Lender:

MIDFIRST BANK

Life Church Operations, LLC in Edmond, OK received a Paycheck Protection Loan of $7.01M through MIDFIRST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Life Church Operations, LLC's total 2019 payroll expenses were approximately $33.63M in order to qualify for the PPP loan amount received.

Based on their reported 451 jobs retained, this equals an estimated average yearly compensation of $74,576 per employee1.

Because the loan received by Life Church Operations, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Life Church Operations, LLC in Edmond, OK

Life Church Operations, LLC
4600 E. 2nd Street
Edmond, OK 73034

Business Industry

Religious Organizations (NAICS code 813110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OK-05

Similar Companies near Edmond

In the Edmond area, 20 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 451) and received an average PPP loan of $523,736 (compared to this company's $7.01M).

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, 98% lower than Life Church Operations, LLC's reported 451 employees, and received an average PPP loan of $80,782, 99% lower than this company's loan of $7.01M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/life-church-operations-llc-edmond-ok