# PPP loan: VELAN STUDIOS INC
> **$1.47M** approved 02/19/2021 · Paid in Full · Loan `1482478510`
## Borrower
- **Name:** VELAN STUDIOS INC
- **Address:** 5 3rd St Ste 300, Troy, NY, 12180-3555
- **NAICS:** 541511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.47M
- **Initial approval:** $1.47M
- **Forgiven:** $1.48M (100%)
- **Forgiveness date:** 08/13/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.47M
- **Utilities:** $1
- **Jobs reported:** 87
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*