# PPP loan: VELTRI AND ASSOCIATES CORPORATION
> **$356K** approved 04/16/2020 · Charged Off · Loan `2920867203`
## Borrower
- **Name:** VELTRI AND ASSOCIATES CORPORATION
- **Address:** 2400 Route 88, POINT PLEASANT BEACH, NJ, 08742
- **NAICS:** 522310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $356K
- **Initial approval:** $356K
- **Forgiven:** $66K (18%)
- **Forgiveness date:** 01/26/2022
- **Status:** Charged Off
- **Term:** 2 months
## Use of funds
- **Payroll:** $284K
- **Rent:** $18K
- **Mortgage interest:** $18K
- **Utilities:** $36K
- **Jobs reported:** 8
## Lender
- **Originating:** Unity Bank
- **Servicing:** Unity Bank (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*