PPP Loan Data — Transfiguration Of Our Savior Greek Orthodox Church, Lowell, MA
Transfiguration Of Our Savior Greek Orthodox Church is a non-profit organization located at 25 Father John Sarantos Way in Lowell, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Enterprise Bank and Trust Company
Transfiguration Of Our Savior Greek Orthodox Church in Lowell, MA received a Paycheck Protection Loan of $25,200 through Enterprise Bank and Trust Company, which was approved in April, 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, Transfiguration Of Our Savior Greek Orthodox Church's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Transfiguration Of Our Savior Greek Orthodox Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Transfiguration Of Our Savior Greek Orthodox Church in Lowell, MA
25 Father John Sarantos Way
Lowell, MA 1854
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Lowell
In the Lowell area, 11 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 2) and received an average PPP loan of $43,223 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Transfiguration Greek Orthodox Church Of Lowell
First Church Of The Nazarene Of Lowell, Massachusetts
Hellenic Orthodox Church Holy Trinity
Saint Patrick Parish
Pawtucket Congregational Church
Saint Ritas Parish
Saint Patricks Parish
Peniel Spanish Christian Church
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, 500% higher than Transfiguration Of Our Savior Greek Orthodox Church's reported 2 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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