# PPP loan: ARC SYSTEMS INC.
> **$450K** approved 02/05/2021 · Paid in Full · Loan `4031388403`
## Borrower
- **Name:** ARC SYSTEMS INC.
- **Address:** 2090 Joshuas Path, Hauppauge, NY, 11788-4764
- **NAICS:** 335312
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $450K
- **Initial approval:** $450K
- **Forgiven:** $454K (101%)
- **Forgiveness date:** 12/01/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $450K
- **Utilities:** $1
- **Jobs reported:** 24
## 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*