# PPP loan: GEARLAUNCH INC.
> **$452K** approved 04/11/2020 · Paid in Full · Loan `3216057110`
## Borrower
- **Name:** GEARLAUNCH INC.
- **Address:** 10 W BROADWAY STE 490, SALT LAKE CITY, UT, 84101-2000
- **NAICS:** 454111
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $452K
- **Initial approval:** $452K
- **Forgiven:** $457K (101%)
- **Forgiveness date:** 05/21/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $339K
- **Rent:** $113K
- **Jobs reported:** 15
## Lender
- **Originating:** Timberline Bank
- **Servicing:** Timberline Bank (CO)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*