# PPP loan: PEARSON FORD, INC.
> **$1.56M** approved 04/04/2020 · Paid in Full · Loan `5051917010`
## Borrower
- **Name:** PEARSON FORD, INC.
- **Address:** 10650 N Michigan Rd, ZIONSVILLE, IN, 46077-9261
- **NAICS:** 441110
- **Business type:** Subchapter S 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:** 12/21/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.25M
- **Rent:** $120K
- **Utilities:** $25K
- **Health care:** $41K
- **Debt interest:** $130K
- **Jobs reported:** 135
## Lender
- **Originating:** Lake City Bank
- **Servicing:** Lake City Bank (IN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*