# PPP loan: CATO INC
> **$1.10M** approved 04/15/2020 · Paid in Full · Loan `9520337102`
## Borrower
- **Name:** CATO INC
- **Address:** 1004 Parsons Rd, Salisbury, MD, 21801
- **NAICS:** 424720
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.10M
- **Initial approval:** $1.10M
- **Forgiven:** $1.11M (101%)
- **Forgiveness date:** 01/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $850K
- **Rent:** $125K
- **Mortgage interest:** $17K
- **Utilities:** $13K
- **Health care:** $60K
- **Debt interest:** $37K
- **Jobs reported:** 81
## 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*