# PPP loan: QUANERGY SYSTEMS, INC.
> **$2.52M** approved 04/30/2020 · Paid in Full · Loan `7428897300`
## Borrower
- **Name:** QUANERGY SYSTEMS, INC.
- **Address:** 433 Lakeside Drive, Sunnyvale, CA, 94085
- **NAICS:** 334511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.52M
- **Initial approval:** $2.52M
- **Forgiven:** $2.54M (101%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.41M
- **Mortgage interest:** $97K
- **Utilities:** $12K
- **Jobs reported:** 93
## Lender
- **Originating:** Silicon Valley Bridge Bank NA
- **Servicing:** First-Citizens Bank & Trust Company (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*