# PPP loan: MOTION AUTOMOTIVE, INC.
> **$249K** approved 04/15/2020 · Paid in Full · Loan `8660497101`
## Borrower
- **Name:** MOTION AUTOMOTIVE, INC.
- **Address:** 111 Ledgewood Avenue, Netcong, NJ, 07857
- **NAICS:** 811121
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $249K
- **Initial approval:** $249K
- **Forgiven:** $252K (101%)
- **Forgiveness date:** 03/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $200K
- **Mortgage interest:** $25K
- **Utilities:** $25K
- **Jobs reported:** 17
## Lender
- **Originating:** First Hope Bank, A National Banking Association
- **Servicing:** First Hope Bank, A National Banking Association (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*