# PPP loan: NOVELTY MAGAZINES INC.
> **$913K** approved 04/14/2020 · Paid in Full · Loan `6862467102`
## Borrower
- **Name:** NOVELTY MAGAZINES INC.
- **Address:** 4225 Executive Square Suite 1000, La Jolla, CA, 92037
- **NAICS:** 519130
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $913K
- **Initial approval:** $913K
- **Forgiven:** $864K (95%)
- **Forgiveness date:** 07/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $913K
- **Jobs reported:** 47
## Lender
- **Originating:** Silicon Valley Bridge Bank NA
- **Servicing:** First-Citizens Bank & Trust Company (NC)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*