# PPP loan: VELVET ICECREAM COMPANY.
> **$1.56M** approved 04/04/2020 · Paid in Full · Loan `4980697005`
## Borrower
- **Name:** VELVET ICECREAM COMPANY.
- **Address:** 11324 MOUNT VERNON RD, UTICA, OH, 43080-7703
- **NAICS:** 311520
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.56M
- **Initial approval:** $1.56M
- **Forgiven:** $1.57M (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.17M
- **Rent:** $300K
- **Utilities:** $90K
- **Jobs reported:** 189
## Lender
- **Originating:** Peoples Bank
- **Servicing:** Peoples Bank (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*