# PPP loan: THE ACADEMY OF MODEL AERONAUTICS, INC.
> **$644K** approved 04/10/2020 · Paid in Full · Loan `2278137100`
## Borrower
- **Name:** THE ACADEMY OF MODEL AERONAUTICS, INC.
- **Address:** 5161 MEMORIAL DR, MUNCIE, IN, 47302-9050
- **NAICS:** 711310
- **Business type:** Non-Profit Organization
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $644K
- **Initial approval:** $644K
- **Forgiven:** $648K (101%)
- **Forgiveness date:** 02/12/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $510K
- **Utilities:** $64K
- **Health care:** $69K
- **Jobs reported:** 50
## Lender
- **Originating:** Northwest Bank
- **Servicing:** Northwest Bank (PA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*