# PPP loan: COST REDUCTION SOLUTIONS
> **$229K** approved 04/27/2020 · Paid in Full · Loan `5632947202`
## Borrower
- **Name:** COST REDUCTION SOLUTIONS
- **Address:** 44 REYNOLDS AVE, PARSIPPANY, NJ, 07054-3324
- **NAICS:** 541219
- **Business type:** Sole Proprietorship
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $229K
- **Initial approval:** $229K
- **Forgiven:** $232K (101%)
- **Forgiveness date:** 04/29/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $172K
- **Utilities:** $11K
- **Health care:** $46K
- **Jobs reported:** 12
## Lender
- **Originating:** Valley National Bank
- **Servicing:** Valley National Bank (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*