# PPP loan: ADVANCE MOTORSPORT INC.
> **$177K** approved 06/02/2020 · Paid in Full · Loan `6863977801`
## Borrower
- **Name:** ADVANCE MOTORSPORT INC.
- **Address:** 3033 Atlantic Avenue, BROOKLYN, NY, 11208-1108
- **NAICS:** 812990
- **Business type:** Subchapter S Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $177K
- **Initial approval:** $177K
- **Forgiven:** $180K (101%)
- **Forgiveness date:** 11/18/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $133K
- **Rent:** $22K
- **Utilities:** $22K
- **Jobs reported:** 18
## Lender
- **Originating:** Celtic Bank Corporation
- **Servicing:** Celtic Bank Corporation (UT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*