# PPP loan: PALACE FOODS INC
> **$157K** approved 04/28/2020 · Paid in Full · Loan `9616487204`
## Borrower
- **Name:** PALACE FOODS INC
- **Address:** 100 Cleveland Avenue, Reading, PA, 19605
- **NAICS:** 311422
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $157K
- **Initial approval:** $157K
- **Forgiven:** $159K (101%)
- **Forgiveness date:** 03/10/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $118K
- **Rent:** $28K
- **Utilities:** $9K
- **Debt interest:** $2K
- **Jobs reported:** 20
## 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*