PPP Loan information for Modern machine & tool co inc

$530,700

Modern machine & tool co inc was initially approved for PPP Loan of amount $530,700, the current approved amount is $530,700. The loan was approved on 04/28/2020 by The Truist Bank reported 40 jobs and $530,700 was used to fund payroll.

Modern machine & tool co inc is Existing or more than 2 years old

PPP Loan Search / VA / Newport News / Modern machine & tool co inc

MODERN MACHINE & TOOL CO INC

Date Approved

04/28/2020

SBA Office Code

0304

Processing Method

PPP

Borrower Name

MODERN MACHINE & TOOL CO INC

Borrower Address

11844 Jefferson Ave

Borrower City

Newport News

Borrower State

VA

Borrower Zip

23606

Loan Status Date

01/31/2022

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

530700.00

Current Approval Amount

530700.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

225134

Servicing Lender Name

Truist Bank

Servicing Lender Address

214 N Tryon St

Servicing Lender City

CHARLOTTE

Servicing Lender State

NC

Servicing Lender Zip

28202-1078

Rural Urban Indicator

U

Hubzone Indicator

Y

HLMI Indicator

Y

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

23606-0001

CD

VA-03

Jobs Reported

40

NAICS Code

333517

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

530700.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Corporation

Originating Lender Location Id

225134

Originating Lender

Truist Bank

Originating Lender City

CHARLOTTE

Originating Lender State

NC

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

536124.93

Forgiveness Date

05/12/2021

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