# PPP loan: THE NEW ACT,INC
> **$1.04M** approved 04/28/2020 · Exemption 4 · Loan `1823567309`
## Borrower
- **Name:** THE NEW ACT,INC
- **Address:** 1925 CENTURY PARK E, LOS ANGELES, CA, 90067
- **NAICS:** 561510
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.04M
- **Initial approval:** $1.04M
- **Forgiven:** $217K (21%)
- **Forgiveness date:** 04/22/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.04M
- **Jobs reported:** 18
## Lender
- **Originating:** U.S. Bank, National Association
- **Servicing:** U.S. Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*