PPP Loan Data — Winchester First United Methodist Church, Winchester, TN
Winchester First United Methodist Church is a non-profit organization located at 100 S Jefferson Street in Winchester, Tennessee that received a Coronavirus-related PPP loan from the SBA of $45,955.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Tri-County Bank
Winchester First United Methodist Church in Winchester, TN received a Paycheck Protection Loan of $45,955 through Citizens Tri-County Bank, 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 March, 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, Winchester First United Methodist Church's 2019 payroll expenses are estimated to be at least $220,584.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $12,255 per employee1
Reported PPP Proceed Usage:
On the PPP application, Winchester First United Methodist Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,955
Business Information - Winchester First United Methodist Church in Winchester, TN
100 S Jefferson Street
Winchester, TN 37398
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Winchester
In the Winchester area, 10 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 18) and received an average PPP loan of $21,239 (compared to this company's $45,955).
Similar Nearby Businesses Who Received PPP Funding:
Christ The Kinf Angelican Church, The Way Forward Inc
Gateway Worship Center Church Of God
New Hope Cumberland Presbyterian Church Of Sequatchie Valley
Winchester First Cumberland Presbyterian Church
Capitol Hill Church Of Christ
Whitwell First Baptist Church
Decherd Church Of God
MT Calvary Baptist 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, 33% lower than Winchester First United Methodist Church's reported 18 employees, and received an average PPP loan of $75,298, 64% higher than this company's loan of $45,955.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!