# PPP loan: SMI EMPLOYEE STOCK OWNERSHIP PLAN
> **$2.14M** approved 04/10/2020 · Paid in Full · Loan `1985737108`
## Borrower
- **Name:** SMI EMPLOYEE STOCK OWNERSHIP PLAN
- **Address:** 5120 Ward s Road, EVINGTON, VA, 24550
- **NAICS:** 423110
- **Business type:** Employee Stock Ownership Plan(ESOP)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.14M
- **Initial approval:** $2.14M
- **Forgiven:** $2.05M (96%)
- **Forgiveness date:** 11/29/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.71M
- **Mortgage interest:** $214K
- **Utilities:** $214K
- **Jobs reported:** 147
## Lender
- **Originating:** The Farmers Bank of Appomattox
- **Servicing:** The Farmers Bank of Appomattox (VA)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*