# PPP loan: NEWPORT ELECTRIC CONSTRUCTION CORP
> **$697K** approved 01/21/2021 · Paid in Full · Loan `2533198308`
## Borrower
- **Name:** NEWPORT ELECTRIC CONSTRUCTION CORP
- **Address:** 121 Broadcommon Rd, Bristol, RI, 02809-2714
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $697K
- **Initial approval:** $697K
- **Forgiven:** $702K (101%)
- **Forgiveness date:** 10/08/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $697K
- **Jobs reported:** 45
## Lender
- **Originating:** BankNewport
- **Servicing:** BankNewport (RI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*