# PPP loan: PALM SPRINGS MOTORS, INC
> **$1.93M** approved 04/08/2020 · Paid in Full · Loan `7687927007`
## Borrower
- **Name:** PALM SPRINGS MOTORS, INC
- **Address:** 69200 PALM CANYON DR, CATHEDRAL CITY, CA, 92234-1419
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.93M
- **Initial approval:** $1.93M
- **Forgiven:** $1.95M (101%)
- **Forgiveness date:** 04/14/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.54M
- **Mortgage interest:** $193K
- **Utilities:** $96K
- **Health care:** $96K
- **Jobs reported:** 142
## Lender
- **Originating:** Pacific Premier Bank
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*