BETHESDA TEMPLE OF PRAISE
PPP Loan approved Apr 9, 2020 through Peoples Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $67,575.00 | 75.0% |
| Mortgage Interest | $22,525.00 | 25.0% |
About This Loan
BETHESDA TEMPLE OF PRAISE received a PPP loan of $90,100 approved on Apr 9, 2020. The loan was originated by Peoples Bank.
BETHESDA TEMPLE OF PRAISE is a non-profit organization located in WHITE SULPHUR SPRINGS, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old". This organization is classified as a non-profit.
The business operates in the Religious Organizations industry (NAICS 813110), part of the Other Services (except Public Administration) sector of the economy. The applicant reported 9 jobs as retained through this loan.
The SBA forgave $90,623.08 of this loan — 100.6% of the total approved amount, with forgiveness recorded on Nov 12, 2020. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $67,575 to payroll, $22,525 to mortgage interest. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Religious Organizations industry page.