# PPP loan: PALCO TELECOM SERVICE, INC.
> **$868K** approved 04/15/2020 · Exemption 4 · Loan `2247977200`
## Borrower
- **Name:** PALCO TELECOM SERVICE, INC.
- **Address:** 290 Dunlop Blvd SW, Bldg 200, HUNTSVILLE, AL, 35824
- **NAICS:** 541611
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $868K
- **Initial approval:** $868K
- **Forgiven:** $758K (87%)
- **Forgiveness date:** 08/16/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $651K
- **Rent:** $125K
- **Mortgage interest:** $42K
- **Utilities:** $50K
- **Jobs reported:** 82
## Lender
- **Originating:** First Source Federal Credit Union
- **Servicing:** PNC Bank, National Association (DE)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*