# PPP loan: VERSATECH, INC
> **$2.66M** approved 04/08/2020 · Paid in Full · Loan `8758457000`
## Borrower
- **Name:** VERSATECH, INC
- **Address:** 8510 Corridor Road, SAVAGE, MD, 20763-9500
- **NAICS:** 541512
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.66M
- **Initial approval:** $2.66M
- **Forgiven:** $2.69M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.56M
- **Rent:** $97K
- **Utilities:** $1K
- **Jobs reported:** 130
## Lender
- **Originating:** Sandy Spring Bank
- **Servicing:** Sandy Spring Bank (MD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*