# PPP loan: VERTRAX, INC
> **$1.43M** approved 04/16/2020 · Charged Off · Loan `2696977206`
## Borrower
- **Name:** VERTRAX, INC
- **Address:** 900 CHAPEL ST FL 2, NEW HAVEN, CT, 06510
- **NAICS:** 541511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.43M
- **Initial approval:** $1.43M
- **Forgiven:** $1.38M (96%)
- **Forgiveness date:** 07/13/2021
- **Status:** Charged Off
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.36M
- **Rent:** $34K
- **Utilities:** $5K
- **Health care:** $27K
- **Jobs reported:** 77
## 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*