PPP Loan Data — Sunnycrest Baptist Church, Marion, IN
Sunnycrest Baptist Church is a non-profit organization located at 2172 W Chapel Pike, in Marion, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Sunnycrest Baptist Church in Marion, IN received a Paycheck Protection Loan of $25,200 through Regions Bank, 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, Sunnycrest Baptist Church's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,192 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sunnycrest Baptist Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Sunnycrest Baptist Church in Marion, IN
2172 W Chapel Pike,
Marion, IN 46952
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Marion
In the Marion area, 34 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 5) and received an average PPP loan of $75,572 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Grant County Sheriff's Chaplaincy Program Inc
Crossroads District Of The Wesleyan Church
Brookhaven Wesleyan Church
Calvary Missionary Baptist Church
Gethsemane Episcopal Church
Bethel Worship Center
First Friends Church Of Marion Inc
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 Sunnycrest Baptist Church's reported 5 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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