# PPP loan: THE SYSTEMS DEPOT INC
> **$605K** approved 04/11/2020 · Paid in Full · Loan `2911997107`
## Borrower
- **Name:** THE SYSTEMS DEPOT INC
- **Address:** 1510 TATE BLVD SE, HICKORY, NC, 28602-4242
- **NAICS:** 423690
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $605K
- **Initial approval:** $605K
- **Forgiven:** $611K (101%)
- **Forgiveness date:** 05/05/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $465K
- **Rent:** $30K
- **Mortgage interest:** $30K
- **Utilities:** $20K
- **Health care:** $50K
- **Debt interest:** $10K
- **Jobs reported:** 56
## 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*