PPP Loan Data — The General Convention Of The New Jerusa, Cambridge, MA
The General Convention Of The New Jerusa is a non-profit organization located at 50 Quincy St in Cambridge, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $47,175.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
The General Convention Of The New Jerusa in Cambridge, MA received a Paycheck Protection Loan of $47,175 through Bank of America, 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 March, 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, The General Convention Of The New Jerusa's 2019 payroll expenses are estimated to be at least $226,440.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,305 per employee1
Reported PPP Proceed Usage:
On the PPP application, The General Convention Of The New Jerusa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,175
Business Information - The General Convention Of The New Jerusa in Cambridge, MA
50 Quincy St
Cambridge, MA 2138
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 Cambridge
In the Cambridge area, 35 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 8) and received an average PPP loan of $74,420 (compared to this company's $47,175).
Similar Nearby Businesses Who Received PPP Funding:
ST. Peter Parish
St Bartholomews Episcopal Church
Saint Paul's Parish
Old Cambridge Baptist Church
Holy Trinity Armenian Apostolic Church Or Greater Boston
Abundant Life Church Inc
Saint Mary Of The Annunciation Parish
First United Presbyterian Church Of Cambridge
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, 50% higher than The General Convention Of The New Jerusa's reported 8 employees, and received an average PPP loan of $75,298, 60% higher than this company's loan of $47,175.
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Footnotes & Information
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