PPP Loan Data — Trustees Idlewild Baptist Church Co Inc, Lutz, FL
Trustees Idlewild Baptist Church Co Inc is a non-profit organization located at 18333 Exciting Idlewild Blvd in Lutz, Florida that received a Coronavirus-related PPP loan from the SBA of $1,508,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Trustees Idlewild Baptist Church Co Inc in Lutz, FL received a Paycheck Protection Loan of $1.51M through Truist Bank d/b/a Branch Banking & Trust Co, 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 January, 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, Trustees Idlewild Baptist Church Co Inc's 2019 payroll expenses are estimated to be at least $7.24M.
Based on their reported 210 jobs retained, this equals an estimated average yearly compensation of $34,482 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trustees Idlewild Baptist Church Co Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,508,600
Business Information - Trustees Idlewild Baptist Church Co Inc in Lutz, FL
18333 Exciting Idlewild Blvd
Lutz, FL 33548
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 Lutz
In the Lutz area, 17 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 210) and received an average PPP loan of $118,976 (compared to this company's $1.51M).
Similar Nearby Businesses Who Received PPP Funding:
Tims Memorial Presbyterian Church Inc
Dominion Sanctuary Ministries Inc
First United Methodist Church Of Lutz, Inc
Crosspointe A Church Of The Nazarene, Inc
Path Of Holiness Christian Church, Inc
River Of Life Church Of Tampa Bay, Inc
The Apostolic Pentecostal Church Of Lutz, Florida, Inc
Presbyterian Camp And Conference Ministries Of SW FL
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, 94% lower than Trustees Idlewild Baptist Church Co Inc's reported 210 employees, and received an average PPP loan of $75,298, 95% lower than this company's loan of $1.51M.
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Footnotes & Information
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