PPP Loan information for Merrimac motors, incorporated

$740,000

Merrimac motors, incorporated was initially approved for PPP Loan of amount $740,000, the current approved amount is $740,000. The loan was approved on 04/08/2020 by The The Old Point National Bank of Phoebus reported 144 jobs and $740,000 was used to fund payroll.

Merrimac motors, incorporated is Existing or more than 2 years old

PPP Loan Search / VA / NEWPORT NEWS / Merrimac motors, incorporated

MERRIMAC MOTORS, INCORPORATED

Date Approved

04/08/2020

SBA Office Code

0304

Processing Method

PPP

Borrower Name

MERRIMAC MOTORS, INCORPORATED

Borrower Address

12629 JEFFERSON AVE

Borrower City

NEWPORT NEWS

Borrower State

VA

Borrower Zip

23602-4315

Loan Status Date

02/27/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

740000.00

Current Approval Amount

740000.00

Undisbursed Amount

0.00

Franchise Name

Nissan North America, Inc. - Dealer Sales and Service Agreement

Servicing Lender Location Id

73444

Servicing Lender Name

The Old Point National Bank of Phoebus

Servicing Lender Address

1 W Mellen St

Servicing Lender City

HAMPTON

Servicing Lender State

VA

Servicing Lender Zip

23663-2305

Rural Urban Indicator

U

Hubzone Indicator

Y

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

NEWPORT NEWS

Project County Name

NEWPORT NEWS CITY

Project State

VA

Project Zip

23602-4315

CD

VA-03

Jobs Reported

144

NAICS Code

441110

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

20700.00

Payroll Proceed

652300.00

Mortgage Interest Proceed

0.00

Rent Proceed

67000.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Corporation

Originating Lender Location Id

73444

Originating Lender

The Old Point National Bank of Phoebus

Originating Lender City

HAMPTON

Originating Lender State

VA

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

745365.00

Forgiveness Date

01/08/2021

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