PPP Loan Data — Ministerio Internacional El Rey Jesus Inc, Miami, FL
Ministerio Internacional El Rey Jesus Inc is a non-profit organization located at 14100 Sw 144th Ave in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $2,027,537.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The First National Bank of South Miami
Ministerio Internacional El Rey Jesus Inc in Miami, FL received a Paycheck Protection Loan of $2.03M through The First National Bank of South Miami, 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, Ministerio Internacional El Rey Jesus Inc's 2019 payroll expenses are estimated to be at least $9.73M.
Based on their reported 287 jobs retained, this equals an estimated average yearly compensation of $33,910 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ministerio Internacional El Rey Jesus Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,027,537
Business Information - Ministerio Internacional El Rey Jesus Inc in Miami, FL
14100 Sw 144th Ave
Miami, FL 33186
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 Miami
In the Miami area, 34 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 287) and received an average PPP loan of $100,053 (compared to this company's $2.03M).
Similar Nearby Businesses Who Received PPP Funding:
Fundacion Y Orden Misionera De Nuestra
Ministerio Ciudad De Dios Inc
Worship Without Walls Inc
Primera Iglesia Del Nazareno Hispano
New Life Community Church
Jesus Christ Only Hope International Ministries Inc
Prophetic Light Ministries,Inc
Pastor Yes Ministries, 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, 96% lower than Ministerio Internacional El Rey Jesus Inc's reported 287 employees, and received an average PPP loan of $75,298, 96% lower than this company's loan of $2.03M.
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Footnotes & Information
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