# PPP loan: PALM BEACH GRADING INC.
> **$697K** approved 01/25/2021 · Charged Off · Loan `5470448306`
## Borrower
- **Name:** PALM BEACH GRADING INC.
- **Address:** 7970 SW Jack James Dr, Stuart, FL, 34997-7241
- **NAICS:** 238910
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $697K
- **Initial approval:** $697K
- **Forgiven:** $534K (77%)
- **Forgiveness date:** 09/07/2022
- **Status:** Charged Off
- **Term:** 31 months
## Use of funds
- **Payroll:** $697K
- **Utilities:** $1
- **Jobs reported:** 33
## 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*