PPP Loan Data — Spirit Of Excellence & Greater Works Ministry, Montgomery, AL
Spirit Of Excellence & Greater Works Ministry is a limited liability company (LLC) located at 6030 Landmark Court in Montgomery, Alabama that received a Coronavirus-related PPP loan from the SBA of $24,959.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Spirit Of Excellence & Greater Works Ministry in Montgomery, AL received a Paycheck Protection Loan of $24,959 through Cross River Bank, 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, Spirit Of Excellence & Greater Works Ministry's 2019 payroll expenses are estimated to be at least $119,803.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $11,980 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spirit Of Excellence & Greater Works Ministry reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,959
Business Information - Spirit Of Excellence & Greater Works Ministry in Montgomery, AL
6030 Landmark Court
Montgomery, AL 36117
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Montgomery
In the Montgomery area, 132 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 10) and received an average PPP loan of $20,677 (compared to this company's $24,959).
Similar Nearby Businesses Who Received PPP Funding:
Tiona Jones Floyd
Lori Grant Humphrey
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B 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 3 employees, 70% lower than Spirit Of Excellence & Greater Works Ministry's reported 10 employees, and received an average PPP loan of $23,676, 5% lower than this company's loan of $24,959.
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Footnotes & Information
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