# PPP loan: NOVASPECT, INC.
> **$5.73M** approved 04/05/2020 · Paid in Full · Loan `5159137003`
## Borrower
- **Name:** NOVASPECT, INC.
- **Address:** 1124 TOWER RD, SCHAUMBURG, IL, 60173-4306
- **NAICS:** 541330
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.73M
- **Initial approval:** $5.73M
- **Forgiven:** $5.79M (101%)
- **Forgiveness date:** 05/19/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $4.29M
- **Mortgage interest:** $716K
- **Utilities:** $716K
- **Jobs reported:** 260
## Lender
- **Originating:** Village Bank and Trust, National Association
- **Servicing:** Village Bank and Trust, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*