# PPP loan: RITE TECHNOLOGY INC
> **$350K** approved 04/05/2020 · Paid in Full · Loan `5527037002`
## Borrower
- **Name:** RITE TECHNOLOGY INC
- **Address:** 1744 INDEPENDENCE BLVD, SARASOTA, FL, 34234-2105
- **NAICS:** 811310
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $350K
- **Initial approval:** $350K
- **Forgiven:** $354K (101%)
- **Forgiveness date:** 07/07/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $285K
- **Rent:** $35K
- **Utilities:** $17K
- **Health care:** $13K
- **Jobs reported:** 31
## Lender
- **Originating:** ServisFirst Bank
- **Servicing:** ServisFirst Bank (AL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*