# PPP loan: KIPP MEMPHIS
> **$3.40M** approved 04/08/2020 · Paid in Full · Loan `7731067007`
## Borrower
- **Name:** KIPP MEMPHIS
- **Address:** 2670 UNION AVENUE EXT Suite 1100, MEMPHIS, TN, 38112-4402
- **NAICS:** 611110
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.40M
- **Initial approval:** $3.40M
- **Forgiven:** $3.43M (101%)
- **Forgiveness date:** 06/17/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.93M
- **Rent:** $167K
- **Utilities:** $78K
- **Health care:** $217K
- **Jobs reported:** 294
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*