PPP Loan Data — ICN Enterprises LLC, Irvington, VA
ICN Enterprises LLC is a limited liability company (LLC) located at 1172 King Carter Dr in Irvington, Virginia that received a Coronavirus-related PPP loan from the SBA of $47,163.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 42 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
ICN Enterprises LLC in Irvington, VA received a Paycheck Protection Loan of $47,163 through Loan Source Incorporated, which was approved in January, 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, ICN Enterprises LLC's 2019 payroll expenses are estimated to be at least $226,382.
Based on their reported 42 jobs retained, this equals an estimated average yearly compensation of $5,390 per employee1
Reported PPP Proceed Usage:
On the PPP application, ICN Enterprises LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,158
- Utilities: $1
Business Information - ICN Enterprises LLC in Irvington, VA
1172 King Carter Dr
Irvington, VA 22480
Nonresidential Property Managers
NAICS code 531312
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 11,970 businesses in the "Nonresidential Property Managers" industry received a total of $1.22B 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 9 employees, 79% lower than ICN Enterprises LLC's reported 42 employees, and received an average PPP loan of $101,557, 115% higher than this company's loan of $47,163.
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Footnotes & Information
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