# PPP loan: OCEAN TOWERS CONSTRUCTION
> **$246K** approved 04/27/2020 · Paid in Full · Loan `3535567205`
## Borrower
- **Name:** OCEAN TOWERS CONSTRUCTION
- **Address:** 16 WATERTOWN RD, BERLIN, MD, 21811-1716
- **NAICS:** 236220
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $246K
- **Initial approval:** $250K
- **Forgiven:** $248K (101%)
- **Forgiveness date:** 01/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $185K
- **Rent:** $31K
- **Utilities:** $31K
- **Jobs reported:** 24
## Lender
- **Originating:** The Farmers Bank of Willards
- **Servicing:** The Farmers Bank of Willards (MD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*