# PPP loan: MOTORCITY SOLAR ENERGY INC.
> **$591K** approved 04/14/2020 · Charged Off · Loan `6554647106`
## Borrower
- **Name:** MOTORCITY SOLAR ENERGY INC.
- **Address:** 220 Bagley suite 514, detroit, MI, 48226
- **NAICS:** 453998
- **Business type:** Sole Proprietorship
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $591K
- **Initial approval:** $591K
- **Status:** Charged Off
- **Term:** 3 months
## Use of funds
- **Payroll:** $591K
- **Jobs reported:** 68
## Lender
- **Originating:** Readycap Lending, LLC
- **Servicing:** Readycap Lending, LLC (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*