PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — The Hope Of Glory Church, Gretna, LA

ALERT: There are 2 PPP loans for a total of $72,202 in our database for businesses with the name "The Hope Of Glory Church" in Gretna, LA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for The Hope Of Glory Church
LA

The Hope Of Glory Church

Entity: Professional Association

Industry: Religious Organizations

Location: Gretna, LA

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The Hope Of Glory Church is a professional association located at 1409 Romain St in Gretna, Louisiana that received a Coronavirus-related PPP loan from the SBA of $23,602.00 in March, 2021.

The company has reported itself as a Black or african american male owned business, and employed at least four people during the applicable loan loan period.

$ PPP Loan Information
Loan #7548238607

Loan Size:

$23,602

Jobs Retained:

4

Loan Approved:

2021-03-23

Loan Status:

Active Un-Disbursed

Lender:

Capital One, National Association
PPP Funds Undisbursed

The Hope Of Glory Church in Gretna, LA received a Paycheck Protection Loan of $23,602 through Capital One, National Association, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $23,602 in approved PPP funding has not been disbursed. 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Hope Of Glory Church's 2019 payroll expenses are estimated to be at least $113,290.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $28,323 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Hope Of Glory Church reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $23,599
  • Utilities: $1

Business Information - The Hope Of Glory Church in Gretna, LA

The Hope Of Glory Church
1409 Romain St
Gretna, LA 70053

Business Industry:
Religious Organizations
NAICS code 813110

Business Owner Demographics

Race: Black or African American

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Jefferson County, LA — SBA Office 0679 — Congressional District: LA-02

Similar Companies near Gretna

In the Gretna area, 8 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 4) and received an average PPP loan of $35,397 (compared to this company's $23,602).

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, 200% higher than The Hope Of Glory Church's reported 4 employees, and received an average PPP loan of $75,298, 219% higher than this company's loan of $23,602.

SBA PPP loan data, payroll data, and salaries for The Hope Of Glory Church
LA

The Hope Of Glory Church

Entity: Professional Association

Industry: All Other Miscellaneous Crop Farming

Location: Gretna, LA

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The Hope Of Glory Church is a professional association located at 1409 Romain Street in Gretna, Louisiana that received a Coronavirus-related PPP loan from the SBA of $48,600.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.

$ PPP Loan Information
Loan #5652067206

Loan Size:

$48,600

Jobs Retained:

4

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

Capital One, National Association

The Hope Of Glory Church in Gretna, LA received a Paycheck Protection Loan of $48,600 through Capital One, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Hope Of Glory Church's 2019 payroll expenses are estimated to be at least $233,280.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $58,320 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Hope Of Glory Church reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $48,600

Business Information - The Hope Of Glory Church in Gretna, LA

The Hope Of Glory Church
1409 Romain Street
Gretna, LA 70053

Business Industry:
All Other Miscellaneous Crop Farming
NAICS code 111998

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Jefferson County, LA — SBA Office 0679 — Congressional District: LA-02

Industry PPP Comparison Statistics

Nationwide, 27,661 businesses in the "All Other Miscellaneous Crop Farming" industry received a total of $1.14B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 6 employees, 50% higher than The Hope Of Glory Church's reported 4 employees, and received an average PPP loan of $41,062, 16% lower than this company's loan of $48,600.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/the-hope-of-glory-church-gretna-la