# PPP loan: UNIVERSAL BOILER WORKS, INC.
> **$395K** approved 05/05/2020 · Exemption 4 · Loan `2425527405`
## Borrower
- **Name:** UNIVERSAL BOILER WORKS, INC.
- **Address:** 10125 BOSQUE CIR NW, ALBUQUERQUE, NM, 87114-8826
- **NAICS:** 238220
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $395K
- **Initial approval:** $140K
- **Forgiven:** $150K (38%)
- **Forgiveness date:** 03/22/2024
- **Status:** Exemption 4
- **Term:** 120 months
## Use of funds
- **Payroll:** $395K
- **Jobs reported:** 12
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*