# PPP loan: VELO CORPORATION OF AMERICA
> **$318K** approved 05/12/2020 · Charged Off · Loan `5240337404`
## Borrower
- **Name:** VELO CORPORATION OF AMERICA
- **Address:** 267 West 17th Street, 3rd Flr, New York, NY, 10011
- **NAICS:** 492110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $318K
- **Initial approval:** $318K
- **Status:** Charged Off
- **Term:** 3 months
## Use of funds
- **Payroll:** $318K
- **Jobs reported:** 60
## Lender
- **Originating:** Valley National Bank
- **Servicing:** Valley National Bank (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*