# PPP loan: MOTORS& ARMATURES, INC
> **$2.19M** approved 04/10/2020 · Paid in Full · Loan `2016507104`
## Borrower
- **Name:** MOTORS& ARMATURES, INC
- **Address:** 250 Rabro Drive East, HAUPPAUGE, NY, 11788
- **NAICS:** 423730
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.19M
- **Initial approval:** $2.19M
- **Forgiven:** $2.22M (101%)
- **Forgiveness date:** 06/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.62M
- **Rent:** $326K
- **Mortgage interest:** $40K
- **Utilities:** $50K
- **Health care:** $157K
- **Jobs reported:** 149
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*