PPP Loan Data — Word Of Life Fellowship, Inc., Schroon Lake, NY
Word Of Life Fellowship, Inc. is a non-profit organization located at 210 Registration Way in Schroon Lake, New York that received a Coronavirus-related PPP loan from the SBA of $2,854,500.00 in April, 2020.
$ PPP Loan Information
Lender:GLENS FALLS NATIONAL BANK AND TRUST COMPANY
Word Of Life Fellowship, Inc. in Schroon Lake, NY received a Paycheck Protection Loan of $2.85M through GLENS FALLS NATIONAL BANK AND TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Word Of Life Fellowship, Inc.'s total 2019 payroll expenses were approximately $13.7M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $54,806 per employee1.
Business Information - Word Of Life Fellowship, Inc. in Schroon Lake, NY
210 Registration Way
Schroon Lake, NY 12870
Religious Organizations (NAICS code 813110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-21
Similar Companies near Schroon Lake
In the Schroon Lake area, 6 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 250) and received an average PPP loan of $483,600 (compared to this company's $2.85M).
Similar Nearby Businesses Who Received PPP Funding:
Bacon Hill Reformed Church
Notre Dame Delourdes Church
Our Lady Of Lourdes Church
Schroon Lake, NY
Old Saratoga Reformed Chruch
Schuylerville Methodist Church
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 Life Fellowship, Inc.'s reported 250 employees, and received an average PPP loan of $80,782, 97% lower than this company's loan of $2.85M.
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Footnotes & Information
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