# PPP loan: MAJESTIC HOTEL CORP
> **$544K** approved 04/30/2020 · Charged Off · Loan `6164297309`
## Borrower
- **Name:** MAJESTIC HOTEL CORP
- **Address:** 700 OCEAN DR, MIAMI BEACH, FL, 33139-6220
- **NAICS:** 721110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $544K
- **Initial approval:** $544K
- **Forgiven:** $453K (83%)
- **Forgiveness date:** 01/12/2022
- **Status:** Charged Off
- **Term:** 2 months
## Use of funds
- **Payroll:** $408K
- **Utilities:** $136K
- **Jobs reported:** 59
## Lender
- **Originating:** City National Bank of Florida
- **Servicing:** City National Bank of Florida (FL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*