# PPP loan: MIDTOWN MOTOR CARS INC.
> **$507K** approved 04/11/2020 · Paid in Full · Loan `3189897108`
## Borrower
- **Name:** MIDTOWN MOTOR CARS INC.
- **Address:** 11999 Jefferson Avenue, NEWPORT NEWS, VA, 23606-4344
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $507K
- **Initial approval:** $507K
- **Forgiven:** $511K (101%)
- **Forgiveness date:** 02/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $507K
- **Jobs reported:** 56
## Lender
- **Originating:** TowneBank
- **Servicing:** TowneBank (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*