# PPP loan: VELOCITY MOTORS LLC
> **$1.53M** approved 04/05/2020 · Paid in Full · Loan `5189857008`
## Borrower
- **Name:** VELOCITY MOTORS LLC
- **Address:** 780 W Martin Luther King jr. Blvd, LOS ANGELES, CA, 90037-1201
- **NAICS:** 441120
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.53M
- **Initial approval:** $1.53M
- **Forgiven:** $1.54M (101%)
- **Forgiveness date:** 03/10/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.15M
- **Utilities:** $382K
- **Jobs reported:** 115
## Lender
- **Originating:** City National Bank of Florida
- **Servicing:** City National Bank of Florida (FL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*