# PPP loan: THE DETROIT INSTITUTE OF ARTS
> **$3.97M** approved 04/11/2020 · Paid in Full · Loan `2878407102`
## Borrower
- **Name:** THE DETROIT INSTITUTE OF ARTS
- **Address:** 5200 Woodward Ave 0.0, Detroit, MI, 48202-4008
- **NAICS:** 712110
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.97M
- **Initial approval:** $3.97M
- **Forgiven:** $3.74M (94%)
- **Forgiveness date:** 01/28/2022
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.30M
- **Utilities:** $200K
- **Health care:** $468K
- **Jobs reported:** 393
## 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*