# PPP loan: ALVES FUELS INC.
> **$198K** approved 02/04/2021 · Paid in Full · Loan `3029828400`
## Borrower
- **Name:** ALVES FUELS INC.
- **Address:** 1020 East St, Ludlow, MA, 01056-1517
- **NAICS:** 424720
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $198K
- **Initial approval:** $198K
- **Forgiven:** $201K (101%)
- **Forgiveness date:** 04/19/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $198K
- **Utilities:** $1
- **Jobs reported:** 16
## Lender
- **Originating:** New Valley Bank & Trust
- **Servicing:** New Valley Bank & Trust (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*