# PPP loan: PENINSULA MOTOR CARS INC.
> **$1.58M** approved 04/11/2020 · Paid in Full · Loan `2952747109`
## Borrower
- **Name:** PENINSULA MOTOR CARS INC.
- **Address:** 12943 Jefferson Ave, NEWPORT NEWS, VA, 23608-1633
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.58M
- **Initial approval:** $1.58M
- **Forgiven:** $1.60M (101%)
- **Forgiveness date:** 02/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.58M
- **Jobs reported:** 142
## Lender
- **Originating:** TowneBank
- **Servicing:** TowneBank (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*