# PPP loan: GAD LAUNDRY INC
> **$423K** approved 05/01/2020 · Charged Off · Loan `1630727705`
## Borrower
- **Name:** GAD LAUNDRY INC
- **Address:** 329 Frelinghuysen Ave, NEWARK, NJ, 07114
- **NAICS:** 812310
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $423K
- **Initial approval:** $423K
- **Status:** Charged Off
- **Term:** 4 months
## Use of funds
- **Payroll:** $317K
- **Rent:** $26K
- **Utilities:** $80K
- **Jobs reported:** 500
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*