# PPP loan: MARGARITAS OF DOWNTOWN INC.
> **$150K** approved 03/24/2021 · Charged Off · Loan `7828298608`
## Borrower
- **Name:** MARGARITAS OF DOWNTOWN INC.
- **Address:** 1625 Old Memphis Rd, Covington, TN, 38019-7537
- **NAICS:** 722511
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $150K
- **Initial approval:** $150K
- **Status:** Charged Off
- **Term:** 37 months
## Use of funds
- **Payroll:** $150K
- **Utilities:** $1
- **Jobs reported:** 22
## Lender
- **Originating:** Cross River Bank
- **Servicing:** Cross River Bank (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*