# PPP loan: MALLORY ELECTRIC COMPANY
> **$985K** approved 02/03/2021 · Paid in Full · Loan `2475588406`
## Borrower
- **Name:** MALLORY ELECTRIC COMPANY
- **Address:** 900 Briarfield Rd, Newport News, VA, 23605-2404
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $985K
- **Initial approval:** $985K
- **Forgiven:** $989K (100%)
- **Forgiveness date:** 07/14/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $985K
- **Jobs reported:** 60
## Lender
- **Originating:** TowneBank
- **Servicing:** TowneBank (VA)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*