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PPP Loan Data — Intercontinental Capital Group, Inc., Melville, NY

SBA PPP loan data, payroll data, and salaries for Intercontinental Capital Group, Inc.
NY

Intercontinental Capital Group, Inc.

Entity: Corporation

Industry: Real Estate Credit

Location: Melville, NY

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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

Loan Size:

$6.57M

Jobs Retained:

410

Loan Approved:

2020-04-09

Lender:

AXOS BANK

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.

Because the loan received by Intercontinental Capital Group, 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 - Intercontinental Capital Group, Inc. in Melville, NY

Intercontinental Capital Group, Inc.
265 Broadhollow Road
Melville, NY 11747

Business Industry

Real Estate Credit (NAICS code 522292)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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).

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.

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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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Source: www.federalpay.org/paycheck-protection-program/intercontinental-capital-group-inc-melville-ny