# PPP loan: PALMEN MOTORS, INC.
> **$1.61M** approved 04/09/2020 · Paid in Full · Loan `9958237003`
## Borrower
- **Name:** PALMEN MOTORS, INC.
- **Address:** 5431 75th Street 0.0, Kenosha, WI, 53142-3601
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.61M
- **Initial approval:** $1.61M
- **Forgiven:** $1.63M (101%)
- **Forgiveness date:** 05/04/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.29M
- **Rent:** $60K
- **Mortgage interest:** $60K
- **Utilities:** $14K
- **Health care:** $128K
- **Debt interest:** $60K
- **Jobs reported:** 101
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*