# PPP loan: EAC, INC.
> **$3.97M** approved 04/15/2020 · Exemption 4 · Loan `9387487101`
## Borrower
- **Name:** EAC, INC.
- **Address:** 50 Clinton Street Suite 107, Hempstead, NY, 11550
- **NAICS:** 624190
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.97M
- **Initial approval:** $3.97M
- **Forgiven:** $1.29M (32%)
- **Forgiveness date:** 10/13/2021
- **Status:** Exemption 4
- **Term:** 59 months
## Use of funds
- **Payroll:** $3.28M
- **Rent:** $347K
- **Mortgage interest:** $7K
- **Utilities:** $13K
- **Health care:** $312K
- **Debt interest:** $7K
- **Jobs reported:** 493
## 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*