# PPP loan: INNOVATION SPECIALTIES, INC.
> **$1.88M** approved 04/06/2020 · Paid in Full · Loan `5709107000`
## Borrower
- **Name:** INNOVATION SPECIALTIES, INC.
- **Address:** 11869 Teale Street, CULVER CITY, CA, 90230-7701
- **NAICS:** 541890
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.88M
- **Initial approval:** $1.88M
- **Forgiven:** $1.90M (101%)
- **Forgiveness date:** 02/23/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.60M
- **Rent:** $188K
- **Utilities:** $94K
- **Jobs reported:** 201
## Lender
- **Originating:** City National Bank
- **Servicing:** City National Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*