PPP Loan Data — St John's United Church Of Christ Of Clarence, Iowa, Clarence, IA
St John's United Church Of Christ Of Clarence, Iowa is a non-profit organization located at 320 9th Ave Po Box 8 in Clarence, Iowa that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in August, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fidelity Bank & Trust
St John's United Church Of Christ Of Clarence, Iowa in Clarence, IA received a Paycheck Protection Loan of $25,200 through Fidelity Bank & Trust, which was approved in August, 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, St John's United Church Of Christ Of Clarence, Iowa's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,320 per employee1
Reported PPP Proceed Usage:
On the PPP application, St John's United Church Of Christ Of Clarence, Iowa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - St John's United Church Of Christ Of Clarence, Iowa in Clarence, IA
320 9th Ave Po Box 8
Clarence, IA 52216
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Clarence
In the Clarence area, 2 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $25,209 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
ST. Johns Ucc
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, 300% higher than St John's United Church Of Christ Of Clarence, Iowa's reported 3 employees, and received an average PPP loan of $75,298, 199% higher than this company's loan of $25,200.
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Footnotes & Information
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