PPP Loan Data — Union United Methodist Church, Quincy, IL
Union United Methodist Church is a non-profit organization located at 1101 State St in Quincy, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:United Community Bank
Union United Methodist Church in Quincy, IL received a Paycheck Protection Loan of $25,000 through United Community Bank, 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, Union United Methodist Church's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Union United Methodist Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Union United Methodist Church in Quincy, IL
1101 State St
Quincy, IL 62301
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Quincy
In the Quincy area, 22 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 3) and received an average PPP loan of $52,506 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Unity Church Of Quincy
Assembly Of God Bethel Church
Luther Memorial Lutheran Church
Faith Presbyterian Church A IL Religious Corp
E L Warren Ministries International
Blessed Sacrament Parish
Vermont Street United Methodist Church
Unitarian Church Of Quincy Illinois
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, 300% higher than Union United Methodist Church's reported 3 employees, and received an average PPP loan of $75,298, 201% higher than this company's loan of $25,000.
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Footnotes & Information
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