# PPP loan: VMI FOUNDATION
> **$830K** approved 04/06/2020 · Paid in Full · Loan `6146627003`
## Borrower
- **Name:** VMI FOUNDATION
- **Address:** 304 Letcher Ave., LEXINGTON, VA, 24450-2110
- **NAICS:** 611710
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $830K
- **Initial approval:** $678K
- **Forgiven:** $835K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $623K
- **Mortgage interest:** $52K
- **Utilities:** $52K
- **Health care:** $52K
- **Debt interest:** $52K
- **Jobs reported:** 43
## Lender
- **Originating:** Cornerstone Bank
- **Servicing:** Cornerstone Bank (VA)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*