# PPP loan: AUTOMATIC EQUIPMENT, INC.
> **$203K** approved 04/16/2020 · Paid in Full · Loan `2662597201`
## Borrower
- **Name:** AUTOMATIC EQUIPMENT, INC.
- **Address:** URB LA RIVIERA 1020 CALLE 3 SUITE 1, SAN JUAN, PR, 00921
- **NAICS:** 811219
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $203K
- **Initial approval:** $203K
- **Forgiven:** $204K (101%)
- **Forgiveness date:** 01/07/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $198K
- **Utilities:** $5K
- **Jobs reported:** 38
## Lender
- **Originating:** Banco Popular de Puerto Rico
- **Servicing:** Banco Popular de Puerto Rico (PR)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*