# PPP loan: COLONIAL MOTOR CARS LTD
> **$502K** approved 04/15/2020 · Paid in Full · Loan `8907837110`
## Borrower
- **Name:** COLONIAL MOTOR CARS LTD
- **Address:** 761 E. Chester St, Kingston, NY, 12401
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $502K
- **Initial approval:** $502K
- **Forgiven:** $508K (101%)
- **Forgiveness date:** 07/06/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $427K
- **Rent:** $44K
- **Utilities:** $17K
- **Health care:** $12K
- **Debt interest:** $1K
- **Jobs reported:** 32
## 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*