PPP Loan Data — Redland Pentecostal Holiness Church, Inc, Advance, NC
Redland Pentecostal Holiness Church, Inc is a non-profit organization located at 137 Baltimore Rd in Advance, North Carolina that received a Coronavirus-related PPP loan from the SBA of $46,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Pennsylvania
Redland Pentecostal Holiness Church, Inc in Advance, NC received a Paycheck Protection Loan of $46,800 through First National Bank of Pennsylvania, 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 February, 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, Redland Pentecostal Holiness Church, Inc's 2019 payroll expenses are estimated to be at least $224,640.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,928 per employee1
Reported PPP Proceed Usage:
On the PPP application, Redland Pentecostal Holiness Church, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,800
Business Information - Redland Pentecostal Holiness Church, Inc in Advance, NC
137 Baltimore Rd
Advance, NC 27006
All Other Business Support Services
NAICS code 561499
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Advance
In the Advance area, 4 businesses in the "All Other Business Support Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $20,652 (compared to this company's $46,800).
Similar Nearby Businesses Who Received PPP Funding:
Haggerson Enterprises LLC
Jean S Sink
Yadkin Valley Baptist Church
Industry PPP Comparison Statistics
Nationwide, 53,190 businesses in the "All Other Business Support Services" industry received a total of $2.63B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 6 employees, 20% higher than Redland Pentecostal Holiness Church, Inc's reported 5 employees, and received an average PPP loan of $49,465, 6% higher than this company's loan of $46,800.
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Footnotes & Information
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