# PPP loan: VM TRANSIT INC
> **$223K** approved 05/01/2020 · Charged Off · Loan `6916907709`
## Borrower
- **Name:** VM TRANSIT INC
- **Address:** 1631 S 52ND ST, PHILADELPHIA, PA, 19143-5009
- **NAICS:** 485111
- **Business type:** Subchapter S Corporation
- **Business age:** Unanswered
## Loan
- **Approval amount:** $223K
- **Initial approval:** $250K
- **Forgiven:** $186K (84%)
- **Forgiveness date:** 02/24/2023
- **Status:** Charged Off
- **Term:** 21 months
## Use of funds
- **Payroll:** $223K
- **Jobs reported:** 41
## Lender
- **Originating:** PNC Bank, National Association
- **Servicing:** PNC Bank, National Association (DE)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*