# PPP loan: SPIRIT PRODUCTS, LTC
> **$500K** approved 04/11/2020 · Paid in Full · Loan `2625227109`
## Borrower
- **Name:** SPIRIT PRODUCTS, LTC
- **Address:** 55 CHASE ST, METHUEN, MA, 01844-3700
- **NAICS:** 315990
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $500K
- **Initial approval:** $500K
- **Forgiven:** $503K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $400K
- **Rent:** $20K
- **Utilities:** $9K
- **Health care:** $58K
- **Debt interest:** $13K
- **Jobs reported:** 42
## Lender
- **Originating:** The Lowell Five Cent Savings Bank
- **Servicing:** The Lowell Five Cent Savings Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*