# PPP loan: ALLIED CONVERTERS INC
> **$165K** approved 05/01/2020 · Paid in Full · Loan `2341867710`
## Borrower
- **Name:** ALLIED CONVERTERS INC
- **Address:** PO Box 548, NEW ROCHELLE, NY, 10802
- **NAICS:** 326111
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $165K
- **Initial approval:** $165K
- **Forgiven:** $166K (101%)
- **Forgiveness date:** 12/02/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $140K
- **Rent:** $18K
- **Utilities:** $4K
- **Debt interest:** $3K
- **Jobs reported:** 160
## 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*