PPP Loan Data — Verbena Foundation, Greensboro, NC
Verbena Foundation is a non-profit organization located at 912 Benfield Dr in Greensboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,080.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Verbena Foundation in Greensboro, NC received a Paycheck Protection Loan of $25,080 through WebBank, which was approved in May, 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, Verbena Foundation's 2019 payroll expenses are estimated to be at least $120,384.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,192 per employee1
Reported PPP Proceed Usage:
On the PPP application, Verbena Foundation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,080
Business Information - Verbena Foundation in Greensboro, NC
912 Benfield Dr
Greensboro, NC 27410
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 Greensboro
In the Greensboro area, 29 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 2) and received an average PPP loan of $107,062 (compared to this company's $25,080).
Similar Nearby Businesses Who Received PPP Funding:
Morehead United Methodist Church
Westover Church, Inc
Fellowship Presbyterian Church Of Greensboro Inc
Yokefellow Prison Ministry Of NC. Inc
ST. John's Anglican Church
The Church Of The Redeemer Of Greensboro NC Inc
New Wineskins Missionary Network
Citadel Of Praise
Greensboro Conservative Hebrew Congregation, Inc
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 Verbena Foundation's reported 2 employees, and received an average PPP loan of $75,298, 200% higher than this company's loan of $25,080.
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Footnotes & Information
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