# PPP loan: CIT CHARTERS, INC
> **$295K** approved 04/30/2020 · Paid in Full · Loan `7098267306`
## Borrower
- **Name:** CIT CHARTERS, INC
- **Address:** 1501 E. Lincoln Way, Ames, IA, 50010-6538
- **NAICS:** 485510
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $295K
- **Initial approval:** $295K
- **Forgiven:** $274K (93%)
- **Forgiveness date:** 07/06/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $222K
- **Rent:** $44K
- **Utilities:** $30K
- **Jobs reported:** 24
## Lender
- **Originating:** Franklin Bank & Trust Company
- **Servicing:** Franklin Bank & Trust Company (KY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*