# PPP loan: INNOVATIVE PRODUCTS OF AMERICA, INC.
> **$494K** approved 04/09/2020 · Paid in Full · Loan `9478007005`
## Borrower
- **Name:** INNOVATIVE PRODUCTS OF AMERICA, INC.
- **Address:** 234 Tinker Street, Woodstock, NY, 12498-1126
- **NAICS:** 336111
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $494K
- **Initial approval:** $494K
- **Forgiven:** $501K (101%)
- **Forgiveness date:** 08/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $462K
- **Rent:** $27K
- **Utilities:** $6K
- **Jobs reported:** 60
## Lender
- **Originating:** New York Business Development Corporation
- **Servicing:** New York Business Development Corporation (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*