OCHIN INC.
PPP Loan approved Apr 16, 2020 through U.S. Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $8,028,872.00 | 100.0% |
About This Loan
OCHIN INC. received a PPP loan of $8,028,872 approved on Apr 16, 2020. The loan was originated by U.S. Bank, National Association.
OCHIN INC. is a non-profit organization located in PORTLAND, Oregon. At the time of the application, the business was described as "existing or more than 2 years old". This organization is classified as a non-profit.
The business operates in the Data Processing, Hosting, and Related Services industry (NAICS 518210), part of the Information sector of the economy. The applicant reported 466 jobs as retained through this loan.
The SBA forgave $8,120,981.00 of this loan — 101.1% of the total approved amount, with forgiveness recorded on Jun 11, 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: $8,028,872 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 Oregon, visit the Oregon page. To compare this loan with others in the same industry, see the Data Processing, Hosting, and Related Services industry page.