# PPP loan: ELITE PROMOTIONAL MARKETING INC
> **$1.20M** approved 05/01/2020 · Charged Off · Loan `5622627708`
## Borrower
- **Name:** ELITE PROMOTIONAL MARKETING INC
- **Address:** 1111 Marcus Ave Ste M60, Lake Success, NY, 11042
- **NAICS:** 541613
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $1.20M
- **Initial approval:** $1.20M
- **Forgiven:** $80K (7%)
- **Forgiveness date:** 12/09/2021
- **Status:** Charged Off
- **Term:** 22 months
## Use of funds
- **Payroll:** $1.20M
- **Jobs reported:** 214
## 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*