# PPP loan: NAUTICUS INC.
> **$426K** approved 03/06/2021 · Exemption 4 · Loan `7463828510`
## Borrower
- **Name:** NAUTICUS INC.
- **Address:** 14 Commerce Dr Ste 202, Cranford, NJ, 07016-3511
- **NAICS:** 541990
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $426K
- **Initial approval:** $426K
- **Forgiven:** $299K (70%)
- **Forgiveness date:** 12/09/2021
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $426K
- **Utilities:** $1
- **Jobs reported:** 19
## Lender
- **Originating:** Spencer Savings Bank, SLA
- **Servicing:** Spencer Savings Bank, SLA (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*