# PPP loan: BASIC RESOURCES INC.
> **$1.23M** approved 04/05/2020 · Paid in Full · Loan `5340597006`
## Borrower
- **Name:** BASIC RESOURCES INC.
- **Address:** 1411 BROADWAY 2nd Fl, NEW YORK, NY, 10018-1976
- **NAICS:** 424320
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.23M
- **Initial approval:** $1.23M
- **Forgiven:** $1.25M (101%)
- **Forgiveness date:** 05/13/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.23M
- **Jobs reported:** 62
## Lender
- **Originating:** East West Bank
- **Servicing:** East West Bank (CA)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*