# PPP loan: LIPOCINE INC.
> **$234K** approved 04/15/2020 · Paid in Full · Loan `9262227100`
## Borrower
- **Name:** LIPOCINE INC.
- **Address:** 675 Arapeen Drive Suite 202, Salt Lake City, UT, 84010
- **NAICS:** 325412
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $234K
- **Initial approval:** $234K
- **Forgiven:** $235K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $178K
- **Mortgage interest:** $56K
- **Jobs reported:** 12
## Lender
- **Originating:** Silicon Valley Bridge Bank NA
- **Servicing:** First-Citizens Bank & Trust Company (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*