PPP Loan Data — Atlantic Coast Mortgage, LLC, Fairfax, VA
Atlantic Coast Mortgage, LLC is a limited liability company (LLC) located at 4097 Monument Corner Dr in Fairfax, Virginia that received a Coronavirus-related PPP loan from the SBA of $3,437,700.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 189 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIRST FEDERAL BANK
Atlantic Coast Mortgage, LLC in Fairfax, VA received a Paycheck Protection Loan of $3.44M through FIRST FEDERAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Atlantic Coast Mortgage, LLC's total 2019 payroll expenses were approximately $16.5M in order to qualify for the PPP loan amount received.
Based on their reported 189 jobs retained, this equals an estimated average yearly compensation of $87,307 per employee1.
Business Information - Atlantic Coast Mortgage, LLC in Fairfax, VA
4097 Monument Corner Dr
Fairfax, VA 22030
Mortgage and Nonmortgage Loan Brokers (NAICS code 522310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: VA-11
Similar Companies near Fairfax
In the Fairfax area, 6 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 189) and received an average PPP loan of $673,510 (compared to this company's $3.44M).
Similar Nearby Businesses Who Received PPP Funding:
Ibanez Mortgage Group, LLC
Advice Home Loans Company
First Fidelity Funding Group LLC
Peace Home Lending
Fairfax Mortgage Investments Inc
Industry PPP Comparison Statistics
Nationwide, 4,330 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a total of $593,727,712.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 9 employees, 95% lower than Atlantic Coast Mortgage, LLC's reported 189 employees, and received an average PPP loan of $137,120, 96% lower than this company's loan of $3.44M.
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, and is published unmodified, as provided by the SBA.
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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