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PPP Loan Data — Reign Ministries,
Crystal, MN
Reign Ministries
Entity: Non-profit Organization
Industry: Religious Organizations
Location: Crystal, MN
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Reign Ministries is a non-profit organization located at 5401 Broadway Ave W in Crystal, Minnesota that received a Coronavirus-related PPP loan from the SBA of $229,071.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
26Loan Approved:
2020-04-29Lender:
U.S. BANK, NATIONAL ASSOCIATIONReign Ministries received a Paycheck Protection Loan of $229,071 through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Reign Ministries' total 2019 payroll expenses were approximately $1.1M in order to qualify for the PPP loan amount received.
Based on their reported 26 jobs retained, this equals an estimated average yearly compensation of $42,290 per employee1.
Business Information - Reign Ministries in Crystal, MN
5401 Broadway Ave W
Crystal, MN 55428
Business Industry
Religious Organizations (NAICS code 813110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MN-05Similar Companies near Crystal
In the Crystal area, 21 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 26) and received an average PPP loan of $268,680 (compared to this company's $229,071).
Similar Nearby Businesses Who Received PPP Funding:
Prince Of Peace Lutheran Church Of Brooklyn Park, Minnesota
Minneapolis, MN
Church Of St Alphonsus
Minneapolis, MN
House Of Hope Lutheran Church
Minneapolis, MN
Brooklyn Park Lutheran Church
Minneapolis, MN
New Hope Christian Life Center
Minneapolis, MN
Brookdale Covenant Church
Brooklyn Center, MN
Calvary Lutheran Church Of Golden Valley
Golden Valley, MN
Holy Trinity Lutheran Church
New Hope, MN
Industry PPP Comparison Statistics
Nationwide, 90,482 businesses in the "Religious Organizations" industry received a total of $7,309,297,472.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 58% lower than Reign Ministries' reported 26 employees, and received an average PPP loan of $80,782, 65% lower than this company's loan of $229,071.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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