PPP Loan Data — Our Lady Of Victory Catholic Church, Sour Lake, TX
Our Lady Of Victory Catholic Church is a non-profit organization located at 225 W Barkley in Sour Lake, Texas that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Third Coast Bank SSB
Our Lady Of Victory Catholic Church in Sour Lake, TX received a Paycheck Protection Loan of $25,200 through Third Coast Bank SSB, 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 June, 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, Our Lady Of Victory Catholic Church's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $10,996 per employee1
Reported PPP Proceed Usage:
On the PPP application, Our Lady Of Victory Catholic Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Our Lady Of Victory Catholic Church in Sour Lake, TX
225 W Barkley
Sour Lake, TX 77659
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 Sour Lake
In the Sour Lake area, 2 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 11) and received an average PPP loan of $29,725 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
First Baptist Church Of Sour Lake
Sour Lake, TX
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, 9% higher than Our Lady Of Victory Catholic Church's reported 11 employees, and received an average PPP loan of $75,298, 199% higher than this company's loan of $25,200.
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Footnotes & Information
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