PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — IC Employee Leasing LLC, Inwood, NY

ALERT: There are 2 PPP loans for a total of $4.28M in our database for businesses with the name "IC Employee Leasing LLC" in Inwood, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for IC Employee Leasing LLC
NY

IC Employee Leasing LLC

Entity: Limited Liability Company (LLC)

Industry: Interurban and Rural Bus Transportation

Location: Inwood, NY

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IC Employee Leasing LLC is a limited liability company (LLC) located at 25 Wanser Ave in Inwood, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

$ PPP Loan Information
Loan #5644418407

Loan Size:

$2M

Jobs Retained:

260

Loan Approved:

2021-02-09

Loan Status:

Ongoing Loan

Lender:

TD Bank, National Association

IC Employee Leasing LLC in Inwood, NY received a Paycheck Protection Loan of $2M through TD Bank, National Association, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, IC Employee Leasing LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 260 jobs retained, this equals an estimated average yearly compensation of $36,923 per employee1

Reported PPP Proceed Usage:

On the PPP application, IC Employee Leasing LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by IC Employee Leasing LLC 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 - IC Employee Leasing LLC in Inwood, NY

IC Employee Leasing LLC
25 Wanser Ave
Inwood, NY 11096

Business Industry:
Interurban and Rural Bus Transportation
NAICS code 485210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Nassau County, NY — SBA Office 0235 — Congressional District: NY-05

Industry PPP Comparison Statistics

Nationwide, 568 businesses in the "Interurban and Rural Bus Transportation" industry received a total of $91.47M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 20 employees, 92% lower than IC Employee Leasing LLC's reported 260 employees, and received an average PPP loan of $161,034, 92% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for IC Employee Leasing, LLC
NY

IC Employee Leasing, LLC

Entity: Limited Liability Company (LLC)

Industry: School and Employee Bus Transportation

Location: Inwood, NY

Search All PPP Data

IC Employee Leasing, LLC is a limited liability company (LLC) located at 25 Wanser Avenue in Inwood, New York that received a Coronavirus-related PPP loan from the SBA of $2,281,602.00 in April, 2020.

$ PPP Loan Information
Loan #5962447306

Loan Size:

$2.28M

Jobs Retained:

345

Loan Approved:

2020-04-30

Loan Status:

Ongoing Loan

Lender:

TD Bank, National Association

IC Employee Leasing, LLC in Inwood, NY received a Paycheck Protection Loan of $2.28M through TD Bank, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, IC Employee Leasing, LLC's 2019 payroll expenses are estimated to be at least $10.95M.

Based on their reported 345 jobs retained, this equals an estimated average yearly compensation of $31,744 per employee1

Reported PPP Proceed Usage:

On the PPP application, IC Employee Leasing, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,281,602
Because the loan received by IC Employee Leasing, LLC 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 - IC Employee Leasing, LLC in Inwood, NY

IC Employee Leasing, LLC
25 Wanser Avenue
Inwood, NY 11096

Business Industry:
School and Employee Bus Transportation
NAICS code 485410

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Nassau County, NY — SBA Office 0235 — Congressional District: NY-05

Industry PPP Comparison Statistics

Nationwide, 3,417 businesses in the "School and Employee Bus Transportation" industry received a total of $525.3M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 29 employees, 92% lower than IC Employee Leasing, LLC's reported 345 employees, and received an average PPP loan of $153,732, 93% lower than this company's loan of $2.28M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/ic-employee-leasing-llc-inwood-ny