# PPP loan: RITE LOGISTICS, LLC
> **$500K** approved 04/11/2020 · Paid in Full · Loan `3301267108`
## Borrower
- **Name:** RITE LOGISTICS, LLC
- **Address:** 19810 MINES RD, LAREDO, TX, 78045-5025
- **NAICS:** 551112
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $500K
- **Initial approval:** $500K
- **Forgiven:** $506K (101%)
- **Forgiveness date:** 05/21/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $459K
- **Rent:** $9K
- **Utilities:** $2K
- **Health care:** $30K
- **Jobs reported:** 20
## Lender
- **Originating:** International Bank of Commerce
- **Servicing:** International Bank of Commerce (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*