# PPP loan: SOUTHERN STATES IMPORTS INC
> **$1.09M** approved 04/07/2020 · Paid in Full · Loan `7444007008`
## Borrower
- **Name:** SOUTHERN STATES IMPORTS INC
- **Address:** 2511 Wake Forest Rd, RALEIGH, NC, 27609-7835
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.09M
- **Initial approval:** $1.09M
- **Forgiven:** $1.10M (101%)
- **Forgiveness date:** 08/23/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $908K
- **Rent:** $90K
- **Utilities:** $40K
- **Health care:** $50K
- **Jobs reported:** 99
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*