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PPP Loan Data — Word Of God Fellowship Inc, Bedford, TX

SBA PPP loan data, payroll data, and salaries for Word Of God Fellowship Inc
TX Nonprofit Organization

Word Of God Fellowship Inc

Entity: Non-profit Organization

Industry: Religious Organizations

Location: Bedford, TX

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Word Of God Fellowship Inc is a non-profit organization located at 3901 Highway 121 in Bedford, Texas that received a Coronavirus-related PPP loan from the SBA of $3,913,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.91M

Jobs Retained:

303

Loan Approved:

2020-04-09

Lender:

FROST BANK

Word Of God Fellowship Inc received a Paycheck Protection Loan of $3.91M through FROST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Word Of God Fellowship Inc's total 2019 payroll expenses were approximately $18.78M in order to qualify for the PPP loan amount received.

Based on their reported 303 jobs retained, this equals an estimated average yearly compensation of $61,991 per employee1.

Because the loan received by Word Of God Fellowship Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Word Of God Fellowship Inc in Bedford, TX

Word Of God Fellowship Inc
3901 Highway 121
Bedford, TX 76021

Business Industry

Religious Organizations (NAICS code 813110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-24

Similar Companies near Bedford

In the Bedford area, 29 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 303) and received an average PPP loan of $223,263 (compared to this company's $3.91M).

Industry PPP Comparison Statistics

Nationwide, 90,482 businesses in the "Religious Organizations" industry received a total of $7,309,297,472.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 96% lower than Word Of God Fellowship Inc's reported 303 employees, and received an average PPP loan of $80,782, 98% lower than this company's loan of $3.91M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/word-of-god-fellowship-inc-bedford-tx