# PPP loan: MID-STATE MOTORS, INC.
> **$525K** approved 04/10/2020 · Paid in Full · Loan `2121217102`
## Borrower
- **Name:** MID-STATE MOTORS, INC.
- **Address:** 1636 Hwy 64 E, ASHEBORO, NC, 27205-2255
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $525K
- **Initial approval:** $525K
- **Forgiven:** $532K (101%)
- **Forgiveness date:** 07/22/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $473K
- **Rent:** $29K
- **Utilities:** $12K
- **Health care:** $11K
- **Jobs reported:** 48
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*