PPP Loan Data — Intercontinental Capital Group, Inc., Melville, NY
Intercontinental Capital Group, Inc. is a corporation located at 265 Broadhollow Road in Melville, New York that received a Coronavirus-related PPP loan from the SBA of $6,573,085.00 in April, 2020.
$ PPP Loan Information
Intercontinental Capital Group, Inc. in Melville, NY received a Paycheck Protection Loan of $6.57M through AXOS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Intercontinental Capital Group, Inc.'s total 2019 payroll expenses were approximately $31.55M in order to qualify for the PPP loan amount received.
Based on their reported 410 jobs retained, this equals an estimated average yearly compensation of $76,953 per employee1.
Business Information - Intercontinental Capital Group, Inc. in Melville, NY
265 Broadhollow Road
Melville, NY 11747
Real Estate Credit (NAICS code 522292)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-03
Similar Companies near Melville
In the Melville area, 3 businesses in the "Real Estate Credit" industry received a PPP loan. These local businesses reported an average of 311 employees (compared to this company's 410) and received an average PPP loan of $4,904,862 (compared to this company's $6.57M).
Similar Nearby Businesses Who Received PPP Funding:
US Mortgage Corporation
United Mortgage Corp.
Industry PPP Comparison Statistics
Nationwide, 1,706 businesses in the "Real Estate Credit" industry received a total of $570,275,600.00 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 21 employees, 95% lower than Intercontinental Capital Group, Inc.'s reported 410 employees, and received an average PPP loan of $334,276, 95% lower than this company's loan of $6.57M.
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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