# PPP loan: INSTITUTE OF FOOD TECHNOLOGISTS INC
> **$1.49M** approved 04/10/2020 · Paid in Full · Loan `2048977110`
## Borrower
- **Name:** INSTITUTE OF FOOD TECHNOLOGISTS INC
- **Address:** 525 W Van Buren Suite 1000, Chicago, IL, 60607-3830
- **NAICS:** 813920
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.49M
- **Initial approval:** $1.49M
- **Forgiven:** $1.52M (102%)
- **Forgiveness date:** 02/08/2022
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.10M
- **Rent:** $210K
- **Utilities:** $4K
- **Health care:** $180K
- **Jobs reported:** 80
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*