# PPP loan: VP MOTORS INC.
> **$340K** approved 04/11/2020 · Paid in Full · Loan `2811437106`
## Borrower
- **Name:** VP MOTORS INC.
- **Address:** 2921 South Garland Avenue, GARLAND, TX, 75041-2603
- **NAICS:** 441120
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $340K
- **Initial approval:** $473K
- **Forgiven:** $344K (101%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $287K
- **Rent:** $33K
- **Utilities:** $5K
- **Health care:** $15K
- **Jobs reported:** 30
## Lender
- **Originating:** Independent Bank d/b/a Independent Financial
- **Servicing:** Independent Bank d/b/a Independent Financial (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*