# PPP loan: PAYNE INC.
> **$1.55M** approved 04/06/2020 · Paid in Full · Loan `5978287006`
## Borrower
- **Name:** PAYNE INC.
- **Address:** 10411 HALL INDUSTRIAL DR, FREDERICKSBURG, VA, 22408-8761
- **NAICS:** 484110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.55M
- **Initial approval:** $1.55M
- **Forgiven:** $1.56M (101%)
- **Forgiveness date:** 12/10/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.55M
- **Jobs reported:** 130
## Lender
- **Originating:** Atlantic Union Bank
- **Servicing:** Atlantic Union Bank (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*