# PPP loan: RES ELITE DEVELOPMENT INC.
> **$250K** approved 05/03/2020 · Charged Off · Loan `9977687309`
## Borrower
- **Name:** RES ELITE DEVELOPMENT INC.
- **Address:** 2719 HOLLYWOOD BLVD, HOLLYWOOD, FL, 33020-4821
- **NAICS:** 531210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $250K
- **Initial approval:** $250K
- **Forgiven:** $13K (5%)
- **Forgiveness date:** 11/10/2022
- **Status:** Charged Off
- **Term:** 24 months
## Use of funds
- **Payroll:** $250K
- **Jobs reported:** 7
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*