# PPP loan: ASHEBORO ELASTICS CORP
> **$639K** approved 04/10/2020 · Paid in Full · Loan `1794027104`
## Borrower
- **Name:** ASHEBORO ELASTICS CORP
- **Address:** 150 N PARK ST, ASHEBORO, NC, 27203-5455
- **NAICS:** 339999
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $639K
- **Initial approval:** $639K
- **Forgiven:** $644K (101%)
- **Forgiveness date:** 01/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $492K
- **Rent:** $12K
- **Utilities:** $15K
- **Health care:** $120K
- **Jobs reported:** 404
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*