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PPP Loan Data — I.C.System, Inc., Saint Paul, MN

SBA PPP loan data, payroll data, and salaries for I.C.System, Inc.

I.C.System, Inc.

Entity: Corporation

Industry: Collection Agencies

Location: Saint Paul, MN

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I.C.System, Inc. is a corporation located at 444 Highway 96 East in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,948,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




I.C.System, Inc. in Saint Paul, MN received a Paycheck Protection Loan of $4.95M through HIGHLAND BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, I.C.System, Inc.'s total 2019 payroll expenses were approximately $23.75M in order to qualify for the PPP loan amount received.

Based on their reported 492 jobs retained, this equals an estimated average yearly compensation of $48,278 per employee1.

Because the loan received by I.C.System, Inc. 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 - I.C.System, Inc. in Saint Paul, MN

I.C.System, Inc.
444 Highway 96 East
Saint Paul, MN 55127

Business Industry

Collection Agencies (NAICS code 561440)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-04

Industry PPP Comparison Statistics

Nationwide, 1,688 businesses in the "Collection Agencies" industry received a total of $422,227,575.00 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 20 employees, 96% lower than I.C.System, Inc.'s reported 492 employees, and received an average PPP loan of $250,135, 95% lower than this company's loan of $4.95M.

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.

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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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** This Document Provided By - The Civil Employee's Resource **