PPP Loan Data — Lower Creek Baptist Church, Lenoir, NC
Lower Creek Baptist Church is a non-profit organization located at 633 Lower Creek Dr in Lenoir, North Carolina that received a Coronavirus-related PPP loan from the SBA of $45,918.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Horizon Bank
Lower Creek Baptist Church in Lenoir, NC received a Paycheck Protection Loan of $45,918 through First Horizon Bank, which was approved in April, 2020.
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, Lower Creek Baptist Church's 2019 payroll expenses are estimated to be at least $220,406.
Based on their reported 19 jobs retained, this equals an estimated average yearly compensation of $11,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lower Creek Baptist Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,918
Business Information - Lower Creek Baptist Church in Lenoir, NC
633 Lower Creek Dr
Lenoir, NC 28645
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Lenoir
In the Lenoir area, 19 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 19) and received an average PPP loan of $18,865 (compared to this company's $45,918).
Similar Nearby Businesses Who Received PPP Funding:
Setzer's Gap Church
Laurel Fork Presbyterian Church
Laurel Springs, NC
United Presbyterian Church Lenoir North
Camp Linn Haven Inc
First United Methodist Church Lenoir
Fairview Presbyterian Church
Union Grove Baptist Church Of Lenoir Inc
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, 37% lower than Lower Creek Baptist Church's reported 19 employees, and received an average PPP loan of $75,298, 64% higher than this company's loan of $45,918.
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Footnotes & Information
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