# PPP loan: EDUCATIONAL RESOURCE SYSTEMS, INC.
> **$1.25M** approved 04/29/2020 · Paid in Full · Loan `3487687309`
## Borrower
- **Name:** EDUCATIONAL RESOURCE SYSTEMS, INC.
- **Address:** 2 Bridge Avenue suite 623, RED BANK, NJ, 07701
- **NAICS:** 541990
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.25M
- **Initial approval:** $1.25M
- **Forgiven:** $1.26M (101%)
- **Forgiveness date:** 08/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.13M
- **Rent:** $12K
- **Mortgage interest:** $12K
- **Utilities:** $37K
- **Health care:** $50K
- **Jobs reported:** 57
## Lender
- **Originating:** American Express National Bank
- **Servicing:** American Express National Bank (UT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*