# PPP loan: NEW YORK ACADEMIC OF ART
> **$740K** approved 04/15/2020 · Paid in Full · Loan `8788907103`
## Borrower
- **Name:** NEW YORK ACADEMIC OF ART
- **Address:** 111 FRANKLIN STREET, NEW YORK, NY, 10013
- **NAICS:** 611519
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $740K
- **Initial approval:** $740K
- **Forgiven:** $745K (101%)
- **Forgiveness date:** 01/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $580K
- **Rent:** $35K
- **Mortgage interest:** $14K
- **Utilities:** $28K
- **Health care:** $70K
- **Debt interest:** $13K
- **Jobs reported:** 117
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*