# PPP loan: MARGIE & RAYS INC
> **$417K** approved 02/03/2021 · Paid in Full · Loan `2274508408`
## Borrower
- **Name:** MARGIE & RAYS INC
- **Address:** 1240 Sandbridge Rd, Virginia Beach, VA, 23456-4020
- **NAICS:** 722511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $417K
- **Initial approval:** $417K
- **Forgiven:** $420K (101%)
- **Forgiveness date:** 11/09/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $417K
- **Utilities:** $1
- **Jobs reported:** 42
## Lender
- **Originating:** TowneBank
- **Servicing:** TowneBank (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*