# PPP loan: NEWCHEM INC.
> **$285K** approved 05/01/2020 · Paid in Full · Loan `9541267703`
## Borrower
- **Name:** NEWCHEM INC.
- **Address:** 401 W Shore Blvd, Newark, NY, 14513-1262
- **NAICS:** 332812
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $285K
- **Initial approval:** $285K
- **Forgiven:** $287K (101%)
- **Forgiveness date:** 03/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $285K
- **Jobs reported:** 29
## Lender
- **Originating:** Newtek Small Business Finance, Inc.
- **Servicing:** Newtek Small Business Finance, Inc. (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*