# PPP loan: NEWRACOM, INC.
> **$612K** approved 05/01/2020 · Paid in Full · Loan `3192417704`
## Borrower
- **Name:** NEWRACOM, INC.
- **Address:** 25361 COMMERCENTRE DR STE 200, LAKE FOREST, CA, 92630
- **NAICS:** 541990
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $612K
- **Initial approval:** $612K
- **Forgiven:** $616K (101%)
- **Forgiveness date:** 01/27/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $489K
- **Rent:** $37K
- **Utilities:** $16K
- **Health care:** $70K
- **Jobs reported:** 33
## 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*