# PPP loan: ALI BABA HOTEL CORP
> **$502K** approved 03/05/2021 · Exemption 4 · Loan `7155998502`
## Borrower
- **Name:** ALI BABA HOTEL CORP
- **Address:** 888 7th Ave, New York, NY, 10106-0001
- **NAICS:** 721110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $502K
- **Initial approval:** $502K
- **Forgiven:** $350K (70%)
- **Forgiveness date:** 02/25/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $502K
- **Utilities:** $1
- **Jobs reported:** 40
## Lender
- **Originating:** Signature Bank
- **Servicing:** Flagstar Bank National Association (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · MORVS · CC0 1.0*