# PPP loan: ELY TOOL INC.
> **$331K** approved 04/10/2020 · Paid in Full · Loan `1906007104`
## Borrower
- **Name:** ELY TOOL INC.
- **Address:** 455 Cottage Street, SPRINGFIELD, MA, 01104-4005
- **NAICS:** 332999
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $331K
- **Initial approval:** $331K
- **Forgiven:** $336K (101%)
- **Forgiveness date:** 09/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $331K
- **Jobs reported:** 26
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*