PPP Loan Data — Seven Locks Jewish Community, Inc, Potomac, MD
Seven Locks Jewish Community, Inc is a non-profit organization located at 11510 Falls Road in Potomac, Maryland that received a Coronavirus-related PPP loan from the SBA of $347,430.00 in April, 2020.
The company has reported itself as a male owned non-profit, and employed at least 47 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Capital Bank, National Association
Seven Locks Jewish Community, Inc in Potomac, MD received a Paycheck Protection Loan of $347,430 through Capital Bank, National Association, 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 May, 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, Seven Locks Jewish Community, Inc's 2019 payroll expenses are estimated to be at least $1.67M.
Based on their reported 47 jobs retained, this equals an estimated average yearly compensation of $35,482 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seven Locks Jewish Community, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $347,430
Business Information - Seven Locks Jewish Community, Inc in Potomac, MD
11510 Falls Road
Potomac, MD 20854
NAICS code 813110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Potomac
In the Potomac area, 47 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 47) and received an average PPP loan of $127,004 (compared to this company's $347,430).
Similar Nearby Businesses Who Received PPP Funding:
Congregation B'nai Tzedek
St James Episcopal Church
Potomac United Methodist Church
Geneva Presbyterian Church
Lutheran Church Of The Cross
El Shaddai Ministries Metropolitan
ST. Francis Of Assisi Church
St Lukes Lutheran Church
Gospel Baptist 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, 74% lower than Seven Locks Jewish Community, Inc's reported 47 employees, and received an average PPP loan of $75,298, 78% lower than this company's loan of $347,430.
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Footnotes & Information
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