# PPP loan: VIP MOTOR CARS LTD
> **$1.50M** approved 04/06/2020 · Paid in Full · Loan `5680357000`
## Borrower
- **Name:** VIP MOTOR CARS LTD
- **Address:** 4095 E Palm Canyon Dr, PALM SPRINGS, CA, 92264-5233
- **NAICS:** 551112
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.50M
- **Initial approval:** $1.50M
- **Forgiven:** $1.51M (101%)
- **Forgiveness date:** 11/12/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.50M
- **Jobs reported:** 110
## Lender
- **Originating:** Simmons Bank
- **Servicing:** Simmons Bank (AR)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*