PPP Loan Data — Phoebe Needles Center, Inc, Callaway, VA
Phoebe Needles Center, Inc is a non-profit organization located at 732 Turners Creek Road in Callaway, Virginia 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:American National Bank and Trust Company
Phoebe Needles Center, Inc in Callaway, VA received a Paycheck Protection Loan of $25,200 through American National Bank and Trust Company, 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, Phoebe Needles Center, Inc's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Phoebe Needles Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Phoebe Needles Center, Inc in Callaway, VA
732 Turners Creek Road
Callaway, VA 24067
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Callaway
In the Callaway area, 5 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $15,210 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Springwood Baptist Church
Christiansburg Assembly Of God
Saint Peters Episcopal Church
Wheatland Evangelical 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, 500% higher than Phoebe Needles Center, Inc's reported 2 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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