AC PACIFIC LLC

AC PACIFIC LLC received a PPP loan of $426,190 approved on Apr 28, 2020. The loan was originated by First Hawaiian Bank.

AC PACIFIC LLC is a limited liability company(llc) located in SAIPAN, Northern Mariana Islands. At the time of the application, the business was described as "existing or more than 2 years old".

The business operates in the Office Supplies, Stationery, and Gift Retailers industry (NAICS 453220), part of the Retail Trade sector of the economy. The applicant reported 120 jobs as retained through this loan.

The SBA forgave $428,557.25 of this loan — 100.6% of the total approved amount, with forgiveness recorded on Feb 16, 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: $426,190 to payroll. 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 Northern Mariana Islands, visit the Northern Mariana Islands page. To compare this loan with others in the same industry, see the Office Supplies, Stationery, and Gift Retailers industry page.