PPP Loan Data — Palermo Bible Family Church, Palermo, CA
Palermo Bible Family Church is a non-profit organization located at 2570 N Villa Ave in Palermo, California that received a Coronavirus-related PPP loan from the SBA of $25,315.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Palermo Bible Family Church in Palermo, CA received a Paycheck Protection Loan of $25,315 through Mechanics Bank, 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 April, 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, Palermo Bible Family Church's 2019 payroll expenses are estimated to be at least $121,512.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,189 per employee1
Reported PPP Proceed Usage:
On the PPP application, Palermo Bible Family Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,315
Business Information - Palermo Bible Family Church in Palermo, CA
2570 N Villa Ave
Palermo, CA 95968
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Palermo
In the Palermo area, 8 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 8) and received an average PPP loan of $56,234 (compared to this company's $25,315).
Similar Nearby Businesses Who Received PPP Funding:
Pastor Of St Thomas More Parish Paradis
Paradise Church Of Religious Science
Christian & Missionary Alliance Church Of Paradise
Christian And Missionary Alliance Church Of Paradise
Pastor Of St. Thomas More Parish, Paradise, A Corporation So
Paradise Lutheran Church
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, 50% higher than Palermo Bible Family Church's reported 8 employees, and received an average PPP loan of $75,298, 197% higher than this company's loan of $25,315.
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Footnotes & Information
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