# PPP loan: VELVET YOGURT INC.
> **$438K** approved 04/12/2020 · Paid in Full · Loan `3883167101`
## Borrower
- **Name:** VELVET YOGURT INC.
- **Address:** 1321 MARIAN LN, NEWPORT BEACH, CA, 92660-4821
- **NAICS:** 311520
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $438K
- **Initial approval:** $438K
- **Forgiven:** $442K (101%)
- **Forgiveness date:** 05/04/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $333K
- **Rent:** $48K
- **Utilities:** $18K
- **Health care:** $39K
- **Jobs reported:** 30
## Lender
- **Originating:** Banner Bank
- **Servicing:** Banner Bank (WA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*