PPP Loan information for New way motors, inc.

$74,000

New way motors, inc. was initially approved for PPP Loan of amount $74,000, the current approved amount is $74,000. The loan was approved on 04/11/2020 by The First Merchants Bank reported 5 jobs and $74,000 was used to fund payroll.

New way motors, inc. is Existing or more than 2 years old

PPP Loan Search / MI / Ferndale / New way motors, inc.

NEW WAY MOTORS, INC.

Date Approved

04/11/2020

SBA Office Code

0515

Processing Method

PPP

Borrower Name

NEW WAY MOTORS, INC.

Borrower Address

10500 W 8 Mile Road

Borrower City

Ferndale

Borrower State

MI

Borrower Zip

48220-2152

Loan Status Date

03/17/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

74000.00

Current Approval Amount

74000.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

24037

Servicing Lender Name

First Merchants Bank

Servicing Lender Address

200 E Jackson St

Servicing Lender City

MUNCIE

Servicing Lender State

IN

Servicing Lender Zip

47305-2835

Rural Urban Indicator

U

Hubzone Indicator

Y

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

Ferndale

Project County Name

OAKLAND

Project State

MI

Project Zip

48220-2152

CD

MI-11

Jobs Reported

5

NAICS Code

441120

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

74000.00

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

24037

Originating Lender

First Merchants Bank

Originating Lender City

MUNCIE

Originating Lender State

IN

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

64355.95

Forgiveness Date

11/12/2020

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