# PPP loan: VERTEX DOWNHOLE INC
> **$294K** approved 05/01/2020 · Charged Off · Loan `4949337701`
## Borrower
- **Name:** VERTEX DOWNHOLE INC
- **Address:** 20221 CARRIAGE POINT DRIVE, HOUSTON, TX, 77073
- **NAICS:** 532412
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $294K
- **Initial approval:** $294K
- **Forgiven:** $225K (77%)
- **Forgiveness date:** 10/19/2022
- **Status:** Charged Off
- **Term:** 8 months
## Use of funds
- **Payroll:** $294K
- **Jobs reported:** 61
## Lender
- **Originating:** Wells Fargo Bank, National Association
- **Servicing:** Wells Fargo Bank, National Association (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*