# PPP loan: 305 MOTORS CORP
> **$561K** approved 05/20/2020 · Charged Off · Loan `9337897402`
## Borrower
- **Name:** 305 MOTORS CORP
- **Address:** 15343 Northwest 33rd Place, Miami Gardens, FL, 33054-2403
- **NAICS:** 541990
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $561K
- **Initial approval:** $561K
- **Status:** Charged Off
- **Term:** 6 months
## Use of funds
- **Payroll:** $421K
- **Rent:** $70K
- **Utilities:** $70K
- **Jobs reported:** 27
## Lender
- **Originating:** Celtic Bank Corporation
- **Servicing:** Celtic Bank Corporation (UT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*