# PPP loan: PENCO CORPORATION
> **$900K** approved 04/12/2020 · Paid in Full · Loan `3923607108`
## Borrower
- **Name:** PENCO CORPORATION
- **Address:** 1503 West Stein Highway, SEAFORD, DE, 19973-1198
- **NAICS:** 423720
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $900K
- **Initial approval:** $900K
- **Forgiven:** $904K (101%)
- **Forgiveness date:** 11/05/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $680K
- **Rent:** $70K
- **Mortgage interest:** $20K
- **Utilities:** $25K
- **Health care:** $85K
- **Debt interest:** $20K
- **Jobs reported:** 88
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*