# PPP loan: RAK INDUSTRIES INC
> **$323K** approved 05/01/2020 · Paid in Full · Loan `7234217700`
## Borrower
- **Name:** RAK INDUSTRIES INC
- **Address:** 625 Jersey Ave, New Brunswick, NJ, 08901
- **NAICS:** 423840
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $323K
- **Initial approval:** $323K
- **Forgiven:** $326K (101%)
- **Forgiveness date:** 04/22/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $323K
- **Jobs reported:** 20
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*