# PPP loan: INNOVATIVE PACKAGING GROUP INC
> **$238K** approved 04/13/2020 · Paid in Full · Loan `5224767110`
## Borrower
- **Name:** INNOVATIVE PACKAGING GROUP INC
- **Address:** 2657 Andjon, DALLAS, TX, 75220
- **NAICS:** 424120
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $238K
- **Initial approval:** $238K
- **Forgiven:** $239K (101%)
- **Forgiveness date:** 01/26/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $170K
- **Rent:** $25K
- **Utilities:** $15K
- **Health care:** $20K
- **Debt interest:** $7K
- **Jobs reported:** 30
## Lender
- **Originating:** Veritex Community Bank
- **Servicing:** Veritex Community Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*