# PPP loan: ELITE TELECOMMUNICATIONS, INC.
> **$318K** approved 05/01/2020 · Paid in Full · Loan `2110027708`
## Borrower
- **Name:** ELITE TELECOMMUNICATIONS, INC.
- **Address:** 37 W 268 RED GATE RD, ST CHARLES, IL, 60175
- **NAICS:** 561990
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $318K
- **Initial approval:** $318K
- **Forgiven:** $320K (101%)
- **Forgiveness date:** 02/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $303K
- **Mortgage interest:** $2K
- **Utilities:** $800
- **Health care:** $12K
- **Jobs reported:** 20
## 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*