PPP Loan Data — International Motorcars, Inc., Suitland, MD
International Motorcars, Inc. is a subchapter s corporation located at 5001 Auth Way in Suitland, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,551,980.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 269 people during the applicable loan loan period.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
International Motorcars, Inc. received a Paycheck Protection Loan of $3.55M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, International Motorcars, Inc.'s total 2019 payroll expenses were approximately $17.05M in order to qualify for the PPP loan amount received.
Based on their reported 269 jobs retained, this equals an estimated average yearly compensation of $63,381 per employee1.
Business Information - International Motorcars, Inc. in Suitland, MD
5001 Auth Way
Suitland, MD 20746
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MD-04
Similar Companies near Suitland
In the Suitland area, 7 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 136 employees (compared to this company's 269) and received an average PPP loan of $1,558,053 (compared to this company's $3.55M).
Similar Nearby Businesses Who Received PPP Funding:
Passport Motors Holding, Inc.
Passport Motorcars Inc
Passport Imports Inc
Autos International Inc.
Darcars Of Auth Way Inc.
Import Motorcars, Inc
Industry PPP Comparison Statistics
Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 47 employees, 83% lower than International Motorcars, Inc.'s reported 269 employees, and received an average PPP loan of $656,005, 82% lower than this company's loan of $3.55M.
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.
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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