# PPP loan: FAROUK SYSTEMS INC
> **$7.33M** approved 05/01/2020 · Paid in Full · Loan `5134757702`
## Borrower
- **Name:** FAROUK SYSTEMS INC
- **Address:** 250 Pennbright Dr Ste 150, Houston, TX, 77090
- **NAICS:** 325620
- **Business type:** Sole Proprietorship
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $7.33M
- **Initial approval:** $7.33M
- **Forgiven:** $7.41M (101%)
- **Forgiveness date:** 07/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $7.33M
- **Jobs reported:** 500
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*