PPP Loan Data — Miracle Hill Ministries Inc, Greenville, SC
Miracle Hill Ministries Inc is a non-profit organization located at 490 S Pleasantburg Dr in Greenville, South Carolina that received a Coronavirus-related PPP loan from the SBA of $1,869,300.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Miracle Hill Ministries Inc in Greenville, SC received a Paycheck Protection Loan of $1.87M through PNC Bank, National Association, which was approved in May, 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, Miracle Hill Ministries Inc's 2019 payroll expenses are estimated to be at least $8.97M.
Based on their reported 340 jobs retained, this equals an estimated average yearly compensation of $26,390 per employee1
Reported PPP Proceed Usage:
On the PPP application, Miracle Hill Ministries Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,869,300
Business Information - Miracle Hill Ministries Inc in Greenville, SC
490 S Pleasantburg Dr
Greenville, SC 29607
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Greenville
In the Greenville area, 24 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 340) and received an average PPP loan of $343,226 (compared to this company's $1.87M).
Similar Nearby Businesses Who Received PPP Funding:
Rocky Creek Baptist Church
Mount Emmanuel Baptist Church
Horizon Presbyterian Church, Inc
The Relentless Church
Christ Church Episcopal School
Christianity Explored USA
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 Miracle Hill Ministries Inc's reported 340 employees, and received an average PPP loan of $75,298, 96% lower than this company's loan of $1.87M.
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Footnotes & Information
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