# PPP loan: KRANCE ENTERPRISES, INC
> **$240K** approved 04/07/2020 · Paid in Full · Loan `6502677004`
## Borrower
- **Name:** KRANCE ENTERPRISES, INC
- **Address:** 555 DENBIGH BLVD Suite A, NEWPORT NEWS, VA, 23608-4201
- **NAICS:** 812990
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $240K
- **Initial approval:** $240K
- **Forgiven:** $242K (101%)
- **Forgiveness date:** 12/15/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $229K
- **Mortgage interest:** $4K
- **Utilities:** $8K
- **Jobs reported:** 46
## Lender
- **Originating:** The Old Point National Bank of Phoebus
- **Servicing:** The Old Point National Bank of Phoebus (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*