# PPP loan: BAY CLIPS, INC.
> **$318K** approved 04/28/2020 · Paid in Full · Loan `7656537201`
## Borrower
- **Name:** BAY CLIPS, INC.
- **Address:** 2208 Lateener Court, VIRGINIA BEACH, VA, 23455-1698
- **NAICS:** 812112
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $318K
- **Initial approval:** $318K
- **Forgiven:** $320K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $260K
- **Rent:** $38K
- **Utilities:** $20K
- **Jobs reported:** 62
## Lender
- **Originating:** First Bank
- **Servicing:** First Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*