# PPP loan: PROCESSION SYSTEMS INC
> **$279K** approved 04/13/2020 · Paid in Full · Loan `4603097105`
## Borrower
- **Name:** PROCESSION SYSTEMS INC
- **Address:** 11260 Roger Bacon Drive Suite 503, RESTON, VA, 20190-5201
- **NAICS:** 541990
- **Business type:** Subchapter S Corporation
- **Business age:** Change of Ownership
## Loan
- **Approval amount:** $279K
- **Initial approval:** $279K
- **Forgiven:** $283K (101%)
- **Forgiveness date:** 07/19/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $238K
- **Rent:** $16K
- **Utilities:** $5K
- **Health care:** $20K
- **Jobs reported:** 30
## 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*