# PPP loan: YOUNG'S MOTORSPORTS
> **$208K** approved 05/04/2020 · Charged Off · Loan `1499727404`
## Borrower
- **Name:** YOUNG'S MOTORSPORTS
- **Address:** 604 PERFORMANCE RD, MOORESVILLE, NC, 28115
- **NAICS:** 811198
- **Business type:** Sole Proprietorship
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $208K
- **Initial approval:** $208K
- **Forgiven:** $2K (1%)
- **Forgiveness date:** 04/18/2022
- **Status:** Charged Off
- **Term:** 4 months
## Use of funds
- **Payroll:** $208K
- **Jobs reported:** 12
## Lender
- **Originating:** Wells Fargo Bank, National Association
- **Servicing:** Wells Fargo Bank, National Association (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*