# PPP loan: VELO-PAYMENTS INC
> **$917K** approved 02/09/2021 · Exemption 4 · Loan `5702948401`
## Borrower
- **Name:** VELO-PAYMENTS INC
- **Address:** 599 Bridgeway, Sausalito, CA, 94965-2248
- **NAICS:** 518210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $917K
- **Initial approval:** $917K
- **Forgiven:** $463K (50%)
- **Forgiveness date:** 10/27/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $917K
- **Jobs reported:** 47
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*