# PPP loan: ARCHES AUTOMOTIVE LLC
> **$712K** approved 04/08/2020 · Paid in Full · Loan `8570097008`
## Borrower
- **Name:** ARCHES AUTOMOTIVE LLC
- **Address:** 2080 COVINGTON PIKE, MEMPHIS, TN, 38128-6982
- **NAICS:** 441110
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $712K
- **Initial approval:** $712K
- **Forgiven:** $720K (101%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $586K
- **Rent:** $43K
- **Utilities:** $12K
- **Health care:** $37K
- **Debt interest:** $35K
- **Jobs reported:** 54
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*