# PPP loan: KARL CHEVROLET INC
> **$5.27M** approved 04/11/2020 · Paid in Full · Loan `2805957102`
## Borrower
- **Name:** KARL CHEVROLET INC
- **Address:** 1101 SE ORALABOR RD, ANKENY, IA, 50021-3950
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.27M
- **Initial approval:** $5.27M
- **Forgiven:** $5.33M (101%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $5.27M
- **Jobs reported:** 472
## Lender
- **Originating:** Ally Bank
- **Servicing:** Ally Bank (UT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*