# PPP loan: STAR LAUNDRY NYC CORP
> **$1.45M** approved 05/01/2020 · Charged Off · Loan `2083197706`
## Borrower
- **Name:** STAR LAUNDRY NYC CORP
- **Address:** 421 E 16TH ST, PATERSON, NJ, 07514
- **NAICS:** 812310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.45M
- **Initial approval:** $1.45M
- **Forgiven:** $705K (49%)
- **Forgiveness date:** 08/30/2021
- **Status:** Charged Off
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.19M
- **Rent:** $9K
- **Mortgage interest:** $11K
- **Utilities:** $224K
- **Health care:** $12K
- **Debt interest:** $4K
- **Jobs reported:** 271
## 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*