# PPP loan: BENEFICENT TECHNOLOGY, INC.
> **$1.57M** approved 04/07/2020 · Paid in Full · Loan `7453067006`
## Borrower
- **Name:** BENEFICENT TECHNOLOGY, INC.
- **Address:** 480 CALIFORNIA AVE STE. 201, PALO ALTO, CA, 94306-1609
- **NAICS:** 541511
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.57M
- **Initial approval:** $1.57M
- **Forgiven:** $1.59M (101%)
- **Forgiveness date:** 07/28/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.28M
- **Rent:** $114K
- **Utilities:** $30K
- **Debt interest:** $144K
- **Jobs reported:** 73
## Lender
- **Originating:** City National Bank
- **Servicing:** City National Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*