# PPP loan: ACU DEVELOPMENT, INC.
> **$314K** approved 05/01/2020 · Charged Off · Loan `2583207703`
## Borrower
- **Name:** ACU DEVELOPMENT, INC.
- **Address:** 17550 N PERIMETER DR, SCOTTSDALE, AZ, 85255
- **NAICS:** 621610
- **Business type:** Subchapter S Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $314K
- **Initial approval:** $314K
- **Forgiven:** $310K (99%)
- **Forgiveness date:** 09/20/2021
- **Status:** Charged Off
- **Term:** 21 months
## Use of funds
- **Payroll:** $268K
- **Rent:** $21K
- **Utilities:** $1K
- **Health care:** $24K
- **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*