PPP Loan Data — New Hope Baptist Church, Dallas, TX
New Hope Baptist Church is a non-profit organization located at 5002 South Central Expressway in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The American National Bank of Texas
New Hope Baptist Church in Dallas, TX received a Paycheck Protection Loan of $25,500 through The American National Bank of Texas, which was approved in May, 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, New Hope Baptist Church's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, New Hope Baptist Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - New Hope Baptist Church in Dallas, TX
5002 South Central Expressway
Dallas, TX 75215
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Dallas
In the Dallas area, 46 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 9) and received an average PPP loan of $75,684 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Cornerstone Baptist Church Of Dallas
Cornerstone Crossroads Academy
Saint James Catholic Parish
True Believers Baptist Church
Lakewood United Methodist Chuch
The Church At Junius Heights
The Winners Assembly Christian Church Of God
Deliverance Missionary Baptist Church, Dallas
Rapturea Better Way Christian Ministry
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, 33% higher than New Hope Baptist Church's reported 9 employees, and received an average PPP loan of $75,298, 195% higher than this company's loan of $25,500.
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Footnotes & Information
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