# PPP loan: MTC CYCLE SPORTS INC
> **$640K** approved 04/14/2020 · Paid in Full · Loan `7809517110`
## Borrower
- **Name:** MTC CYCLE SPORTS INC
- **Address:** 4240 Kearny Mesa Rd #108, San Diego, CA, 92111
- **NAICS:** 453998
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $640K
- **Initial approval:** $60K
- **Forgiven:** $645K (101%)
- **Forgiveness date:** 01/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $640K
- **Jobs reported:** 73
## Lender
- **Originating:** Readycap Lending, LLC
- **Servicing:** Customers Bank (PA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*