# PPP loan: THE NEW Y-CAPP INC.
> **$553K** approved 04/15/2020 · Exemption 4 · Loan `8417187102`
## Borrower
- **Name:** THE NEW Y-CAPP INC.
- **Address:** 1500 Brook Road, Richmond, VA, 23220
- **NAICS:** 621420
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $553K
- **Initial approval:** $553K
- **Forgiven:** $390K (70%)
- **Forgiveness date:** 07/19/2023
- **Status:** Exemption 4
- **Term:** 59 months
## Use of funds
- **Payroll:** $288K
- **Rent:** $18K
- **Mortgage interest:** $20K
- **Utilities:** $27K
- **Health care:** $60K
- **Debt interest:** $140K
- **Jobs reported:** 10
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*