# PPP loan: GI LOGISTICS INC.
> **$200K** approved 04/30/2020 · Charged Off · Loan `5908517302`
## Borrower
- **Name:** GI LOGISTICS INC.
- **Address:** 500 Delancy Street, Newark, NJ, 07105
- **NAICS:** 483211
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $200K
- **Initial approval:** $200K
- **Forgiven:** $192K (96%)
- **Forgiveness date:** 12/10/2021
- **Status:** Charged Off
- **Term:** 2 months
## Use of funds
- **Payroll:** $150K
- **Mortgage interest:** $50K
- **Jobs reported:** 23
## Lender
- **Originating:** Celtic Bank Corporation
- **Servicing:** Square Capital, LLC (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*