# PPP loan: KAREM AIRCRAFT INC
> **$1.23M** approved 07/19/2020 · Exemption 4 · Loan `5483348103`
## Borrower
- **Name:** KAREM AIRCRAFT INC
- **Address:** 1 CAPITAL DR, LAKE FOREST, CA, 92630-2203
- **NAICS:** 541330
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.23M
- **Initial approval:** $1.23M
- **Forgiven:** $1.19M (96%)
- **Forgiveness date:** 11/17/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.23M
- **Jobs reported:** 53
## 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*