PPP Loan Data — The Universal Church Inc., Newark, NJ
The Universal Church Inc. is a non-profit organization located at 100 Mulberry Street, 14th Floor in Newark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $7,632,975.00 in August, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
The Universal Church Inc. in Newark, NJ received a Paycheck Protection Loan of $7.63M through SIGNATURE BANK, which was approved in August, 2020.
Based on standard PPP eligibility rules, The Universal Church Inc.'s total 2019 payroll expenses were approximately $36.64M in order to qualify for the PPP loan amount received.
Unlike most businesses, The Universal Church Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - The Universal Church Inc. in Newark, NJ
100 Mulberry Street, 14th Floor
Newark, NJ 07102
Religious Organizations (NAICS code 813110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-10
Similar Companies near Newark
In the Newark area, 17 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 0) and received an average PPP loan of $515,611 (compared to this company's $7.63M).
Similar Nearby Businesses Who Received PPP Funding:
Jehovah Jireh Praise & Worship
The New Hope Baptist Church
Saint Patricks Church
Apex Hopewell NJ LLC
Centro Cristiano Calvario Incorporated
The Diocese Of Newark
Bethany Baptist Church
St. Antoninus Catholic Church
Industry PPP Comparison Statistics
Nationwide, 90,482 businesses in the "Religious Organizations" industry received a total of $7,309,297,472.00 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 11 employees, and received an average PPP loan of $80,782, 99% lower than this company's loan of $7.63M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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