ISAGENIX WORLDWIDE INC
PPP Loan approved Mar 12, 2021 through Wells Fargo Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $9,999,994.00 | 100.0% |
| Utilities | $1.00 | 0.0% |
About This Loan
ISAGENIX WORLDWIDE INC received a PPP loan of $9,999,997 approved on Mar 12, 2021. The loan was originated by Wells Fargo Bank, National Association.
ISAGENIX WORLDWIDE INC is a corporation located in GILBERT, Arizona. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Miscellaneous Nondurable Goods Merchant Wholesalers industry (NAICS 424990), part of the Wholesale Trade sector of the economy. The applicant reported 497 jobs as retained through this loan.
The SBA forgave $10,070,955.88 of this loan — 100.7% of the total approved amount, with forgiveness recorded on Nov 30, 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: $9,999,994 to payroll, $1 to utilities. The payroll component represents 100.0% 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 Arizona, visit the Arizona page. To compare this loan with others in the same industry, see the Miscellaneous Nondurable Goods Merchant Wholesalers industry page.