# PPP loan: MURPHY INDUSTRIAL COATINGS, INC.
> **$1.50M** approved 04/11/2020 · Paid in Full · Loan `3511307105`
## Borrower
- **Name:** MURPHY INDUSTRIAL COATINGS, INC.
- **Address:** 2704 GUNDRY AVE, SIGNAL HILL, CA, 90755-1811
- **NAICS:** 238990
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.50M
- **Initial approval:** $1.50M
- **Forgiven:** $1.52M (101%)
- **Forgiveness date:** 05/21/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.43M
- **Mortgage interest:** $18K
- **Utilities:** $30K
- **Debt interest:** $24K
- **Jobs reported:** 60
## Lender
- **Originating:** American Business Bank
- **Servicing:** American Business Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*