# PPP loan: U MART INC
> **$242K** approved 05/06/2020 · Paid in Full · Loan `2972577408`
## Borrower
- **Name:** U MART INC
- **Address:** 1505 LYNNHAVEN PKWY, VIRGINIA BEACH, VA, 23453-2013
- **NAICS:** 445110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $242K
- **Initial approval:** $242K
- **Forgiven:** $245K (101%)
- **Forgiveness date:** 08/10/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $194K
- **Rent:** $48K
- **Jobs reported:** 30
## Lender
- **Originating:** Locus Bank Inc
- **Servicing:** Locus Bank Inc (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*