# PPP loan: BIANCHI MOTORS INC
> **$1.50M** approved 04/07/2020 · Exemption 4 · Loan `7568947010`
## Borrower
- **Name:** BIANCHI MOTORS INC
- **Address:** 8430 Peach Street, ERIE, PA, 16509-4719
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.50M
- **Initial approval:** $1.50M
- **Forgiven:** $1.32M (88%)
- **Forgiveness date:** 09/20/2021
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.50M
- **Jobs reported:** 125
## Lender
- **Originating:** PNC Bank, National Association
- **Servicing:** PNC Bank, National Association (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*