PPP Loan Data — Sargent Memorial Presbyterian Church, Washington, DC
Sargent Memorial Presbyterian Church is a non-profit organization located at 5109 Nh Burroughs Avenue N.e. in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $25,389.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Sargent Memorial Presbyterian Church in Washington, DC received a Paycheck Protection Loan of $25,389 through Wells Fargo Bank, National Association, which was approved in May, 2020.
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, Sargent Memorial Presbyterian Church's 2019 payroll expenses are estimated to be at least $121,867.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,934 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sargent Memorial Presbyterian Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,389
Business Information - Sargent Memorial Presbyterian Church in Washington, DC
5109 Nh Burroughs Avenue N.e.
Washington, DC 20019
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Washington
In the Washington area, 56 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 2) and received an average PPP loan of $33,872 (compared to this company's $25,389).
Similar Nearby Businesses Who Received PPP Funding:
Rising Sun Baptist Church, Inc
St.francis De Sales Catholic Church
Victory City Of Praise
First Rock Baptist Church
Rccg New Wine Assembly
Washington Dc, DC
First Baptist Church Of Marshall
Debre Hail Kedus Gabriel Cathedral
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 Sargent Memorial Presbyterian Church's reported 2 employees, and received an average PPP loan of $75,298, 197% higher than this company's loan of $25,389.
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Footnotes & Information
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