# PPP loan: VELIC TRANSPORTATION, INC
> **$158K** approved 05/26/2020 · Charged Off · Loan `3648577803`
## Borrower
- **Name:** VELIC TRANSPORTATION, INC
- **Address:** 35375 Groesbeck Highway STE A, Clinton Township, MI, 48035-2516
- **NAICS:** 484110
- **Business type:** Corporation
- **Business age:** Unanswered
## Loan
- **Approval amount:** $158K
- **Initial approval:** $158K
- **Forgiven:** $78K (49%)
- **Forgiveness date:** 04/29/2022
- **Status:** Charged Off
- **Term:** 4 months
## Use of funds
- **Payroll:** $158K
- **Jobs reported:** 15
## Lender
- **Originating:** Cross River Bank
- **Servicing:** Cross River Bank (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*