# PPP loan: RAEL AUTOMATIC SPRINKLER CO., INC.
> **$10.00M** approved 04/15/2020 · Paid in Full · Loan `9734967109`
## Borrower
- **Name:** RAEL AUTOMATIC SPRINKLER CO., INC.
- **Address:** 1750 Plaza Avenue, New Hyde Park, NY, 11040
- **NAICS:** 238220
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $10.00M
- **Initial approval:** $10.00M
- **Forgiven:** $10.11M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $7.26M
- **Mortgage interest:** $65K
- **Utilities:** $5K
- **Health care:** $2.67M
- **Jobs reported:** 321
## 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*