# PPP loan: RITE-WAY AXLE & SUSPENSION INC
> **$158K** approved 04/09/2020 · Paid in Full · Loan `9748967001`
## Borrower
- **Name:** RITE-WAY AXLE & SUSPENSION INC
- **Address:** 9227 SAN FERNANDO RD, SUN VALLEY, CA, 91352-1416
- **NAICS:** 811118
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $158K
- **Initial approval:** $158K
- **Forgiven:** $160K (101%)
- **Forgiveness date:** 06/22/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $126K
- **Rent:** $27K
- **Utilities:** $5K
- **Jobs reported:** 12
## Lender
- **Originating:** City National Bank
- **Servicing:** City National Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*