# PPP loan: PRACO, LTD
> **$731K** approved 04/05/2020 · Paid in Full · Loan `5561347005`
## Borrower
- **Name:** PRACO, LTD
- **Address:** 2 N. NEVADA AVE, Suite 1400, COLORADO SPRINGS, CO, 80903-1700
- **NAICS:** 541810
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $731K
- **Initial approval:** $731K
- **Forgiven:** $735K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $513K
- **Rent:** $23K
- **Utilities:** $153K
- **Health care:** $42K
- **Debt interest:** $163.76
- **Jobs reported:** 48
## Lender
- **Originating:** First National Bank Colorado
- **Servicing:** First National Bank Colorado (CO)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*