# PPP loan: HOOVER MOTORS, INC
> **$350K** approved 04/14/2020 · Paid in Full · Loan `5928927108`
## Borrower
- **Name:** HOOVER MOTORS, INC
- **Address:** 325 N Hwy 52, MONCKS CORNER, SC, 29461-3919
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $350K
- **Initial approval:** $350K
- **Forgiven:** $354K (101%)
- **Forgiveness date:** 06/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $350K
- **Jobs reported:** 24
## Lender
- **Originating:** Ally Bank
- **Servicing:** Ally Bank (UT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*