# PPP loan: INTELLECT RESOURCES, INC.
> **$602K** approved 04/14/2020 · Exemption 4 · Loan `7977247100`
## Borrower
- **Name:** INTELLECT RESOURCES, INC.
- **Address:** 3824 N Elm Street, Greensboro, NC, 27455
- **NAICS:** 561311
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $602K
- **Initial approval:** $602K
- **Forgiven:** $579K (96%)
- **Forgiveness date:** 03/24/2022
- **Status:** Exemption 4
- **Term:** 59 months
## Use of funds
- **Payroll:** $602K
- **Jobs reported:** 24
## 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*