# PPP loan: ELITE PROMOTIONAL MARKETING INC
> **$1.20M** approved 01/28/2021 · Charged Off · Loan `7270718309`
## Borrower
- **Name:** ELITE PROMOTIONAL MARKETING INC
- **Address:** 1111 Marcus Ave Ste M60, New Hyde Park, NY, 11042-1034
- **NAICS:** 541810
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.20M
- **Initial approval:** $1.20M
- **Forgiven:** $364K (30%)
- **Forgiveness date:** 07/14/2022
- **Status:** Charged Off
- **Term:** 31 months
## Use of funds
- **Payroll:** $1.20M
- **Utilities:** $1
- **Jobs reported:** 50
## 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*