# PPP loan: VELA INVESTMENT CORPORATION
> **$255K** approved 04/16/2020 · Paid in Full · Loan `2942387202`
## Borrower
- **Name:** VELA INVESTMENT CORPORATION
- **Address:** 3523 W ALBERTA RD, EDINBURG, TX, 78539-8466
- **NAICS:** 621610
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $255K
- **Initial approval:** $255K
- **Forgiven:** $257K (101%)
- **Forgiveness date:** 11/27/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $255K
- **Jobs reported:** 102
## Lender
- **Originating:** Texas Regional Bank
- **Servicing:** Texas Regional Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*