# PPP loan: PHILLIPS PRECISION, INC.
> **$2.71M** approved 04/09/2020 · Paid in Full · Loan `9328217003`
## Borrower
- **Name:** PHILLIPS PRECISION, INC.
- **Address:** 7 Paul Kohner Place 0.0, Elmwood Park, NJ, 07407-3208
- **NAICS:** 339112
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.71M
- **Initial approval:** $2.71M
- **Forgiven:** $2.74M (101%)
- **Forgiveness date:** 06/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.10M
- **Rent:** $67K
- **Mortgage interest:** $300K
- **Utilities:** $61K
- **Health care:** $176K
- **Jobs reported:** 187
## 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*