PPP Loan Data — Zion Episcopal Church-Sba Small 7A Term, North Branford, CT
Zion Episcopal Church-Sba Small 7A Term is a non-profit organization located at 326 Notch Hill Rd in North Branford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:TD Bank, National Association
Zion Episcopal Church-Sba Small 7A Term in North Branford, CT received a Paycheck Protection Loan of $25,000 through TD Bank, National Association, which was approved in May, 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 April, 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, Zion Episcopal Church-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Zion Episcopal Church-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Zion Episcopal Church-Sba Small 7A Term in North Branford, CT
326 Notch Hill Rd
North Branford, CT 6471
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 North Branford
In the North Branford area, 11 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 4) and received an average PPP loan of $53,397 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Newtown United Methodist Church
Saint Ambrose Parish Corporation
North Branford, CT
Newtown Congregational Church
Christ The King Lutheran Church
Trinity Episcopal Church
Congregation Adath Israel Of Newtown Inc
Grace Family Church, Inc
ST. Rose's Church Newtown
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, 200% higher than Zion Episcopal Church-Sba Small 7A Term's reported 4 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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