# PPP loan: RGT NEWARK HOTEL LLC
> **$1.62M** approved 04/10/2020 · Paid in Full · Loan `2450887105`
## Borrower
- **Name:** RGT NEWARK HOTEL LLC
- **Address:** 128 Frontage Rd, NEWARK, NJ, 07114
- **NAICS:** 721110
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $1.62M
- **Initial approval:** $1.62M
- **Forgiven:** $1.64M (101%)
- **Forgiveness date:** 08/10/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.21M
- **Mortgage interest:** $404K
- **Jobs reported:** 189
## Lender
- **Originating:** Axos Bank
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*