# PPP loan: FORMULA 1, LTD.
> **$169K** approved 04/27/2020 · Paid in Full · Loan `5794817201`
## Borrower
- **Name:** FORMULA 1, LTD.
- **Address:** 596 E 23RD STREET, TUCSON, AZ, 85713
- **NAICS:** 811121
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $169K
- **Initial approval:** $169K
- **Forgiven:** $171K (101%)
- **Forgiveness date:** 04/27/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $169K
- **Jobs reported:** 13
## Lender
- **Originating:** Western Alliance Bank
- **Servicing:** Western Alliance Bank (AZ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*