# PPP loan: NEWAY TECHNOLOGIES INC.
> **$277K** approved 05/01/2020 · Paid in Full · Loan `2173837701`
## Borrower
- **Name:** NEWAY TECHNOLOGIES INC.
- **Address:** 221 RIVER ST STE 9, HOBOKEN, NJ, 07030
- **NAICS:** —
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $277K
- **Initial approval:** $277K
- **Forgiven:** $280K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $268K
- **Rent:** $9K
- **Jobs reported:** 14
## 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*