# PPP loan: PENNAS INC
> **$324K** approved 04/15/2020 · Charged Off · Loan `1999367203`
## Borrower
- **Name:** PENNAS INC
- **Address:** 38400 Van Dyke, Sterling Heights, MI, 48312
- **NAICS:** 722320
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $324K
- **Initial approval:** $324K
- **Forgiven:** $258K (80%)
- **Forgiveness date:** 08/16/2021
- **Status:** Charged Off
- **Term:** 2 months
## Use of funds
- **Payroll:** $324K
- **Jobs reported:** 27
## Lender
- **Originating:** Flagstar Bank National Association
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*