# PPP loan: VELAN STUDIOS, INC
> **$1.09M** approved 04/15/2020 · Paid in Full · Loan `8899457102`
## Borrower
- **Name:** VELAN STUDIOS, INC
- **Address:** 5 3rd Street Suite 300 Suite 300, Troy, NY, 12180
- **NAICS:** 541511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.09M
- **Initial approval:** $1.09M
- **Forgiven:** $1.10M (101%)
- **Forgiveness date:** 11/05/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $964K
- **Rent:** $35K
- **Utilities:** $5K
- **Health care:** $90K
- **Jobs reported:** 76
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*