AMERICAN CUSTOMER CARE INC
PPP Loan approved Apr 28, 2020 through Israel Discount Bank of New York
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $4,272,652.50 | 75.0% |
| Utilities | $712,108.75 | 12.5% |
| Mortgage Interest | $712,108.75 | 12.5% |
About This Loan
AMERICAN CUSTOMER CARE INC received a PPP loan of $5,696,870 approved on Apr 28, 2020. The loan was originated by Israel Discount Bank of New York.
AMERICAN CUSTOMER CARE INC is a corporation located in BRISTOL, Connecticut. At the time of the application, the business was described as "unanswered".
The business operates in the Business Support Services industry (NAICS 561422), part of the Administrative and Support and Waste Management sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $5,768,397.37 of this loan — 101.3% of the total approved amount, with forgiveness recorded on Aug 3, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $4,272,653 to payroll, $712,109 to utilities, $712,109 to mortgage interest. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Connecticut, visit the Connecticut page. To compare this loan with others in the same industry, see the Business Support Services industry page.