PPP Loan Data — Siloam Presbyterian Church, Brooklyn, NY
Siloam Presbyterian Church is a professional association located at 260 Jefferson Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $24,822.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Siloam Presbyterian Church in Brooklyn, NY received a Paycheck Protection Loan of $24,822 through JPMorgan Chase Bank, National Association, which was approved in May, 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, Siloam Presbyterian Church's 2019 payroll expenses are estimated to be at least $119,146.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,829 per employee1
Reported PPP Proceed Usage:
On the PPP application, Siloam Presbyterian Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,616
- Utilities: $6,206
Business Information - Siloam Presbyterian Church in Brooklyn, NY
260 Jefferson Ave
Brooklyn, NY 11216
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 Brooklyn
In the Brooklyn area, 60 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 5) and received an average PPP loan of $154,016 (compared to this company's $24,822).
Similar Nearby Businesses Who Received PPP Funding:
St John St Matthew Emanuel Lutheran Church
Repair The World Inc
Brooklyn Tabernacle Deliverance Center
Bedford Central Presbyterian Church
Grace United Methodist Church
The Roman Catholic Diocese Of Brooklyn New York
Park Slope United Methodist Church
Bharati Center Inc
ST. Nicholas Antiochian Orthodox Cat
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, 140% higher than Siloam Presbyterian Church's reported 5 employees, and received an average PPP loan of $75,298, 203% higher than this company's loan of $24,822.
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Footnotes & Information
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