# PPP loan: OTTO HERRMANN INC
> **$215K** approved 05/01/2020 · Paid in Full · Loan `2058887710`
## Borrower
- **Name:** OTTO HERRMANN INC
- **Address:** 67-29 MYRTLE AVENUE, GLENDALE, NY, 11385
- **NAICS:** 423710
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $215K
- **Initial approval:** $215K
- **Forgiven:** $217K (101%)
- **Forgiveness date:** 07/22/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $172K
- **Rent:** $8K
- **Utilities:** $6K
- **Health care:** $29K
- **Jobs reported:** 16
## 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*