PPP Loan Data — Life House Ministries, Inc, Beavercreek, OH
Life House Ministries, Inc is a non-profit organization located at 1190 Richfield Ctr in Beavercreek, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,444.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wright Patt CU Inc
Life House Ministries, Inc in Beavercreek, OH received a Paycheck Protection Loan of $25,444 through Wright Patt CU Inc, 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 January, 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, Life House Ministries, Inc's 2019 payroll expenses are estimated to be at least $122,131.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,355 per employee1
Reported PPP Proceed Usage:
On the PPP application, Life House Ministries, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,084
- Utilities: $3,180
- Rent: $3,180
Business Information - Life House Ministries, Inc in Beavercreek, OH
1190 Richfield Ctr
Beavercreek, OH 45430
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 Beavercreek
In the Beavercreek area, 6 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 6) and received an average PPP loan of $36,051 (compared to this company's $25,444).
Similar Nearby Businesses Who Received PPP Funding:
Spinning Road Baptist Church Inc
Hindu Community Organization LLC
ST. Mark's Episcopal Church
Bergamo Center For Lifelong Learning
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 Life House Ministries, Inc's reported 6 employees, and received an average PPP loan of $75,298, 196% higher than this company's loan of $25,444.
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Footnotes & Information
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