# PPP loan: MARTELLI ENTERPRISES INC
> **$500K** approved 04/13/2020 · Exemption 4 · Loan `4295847102`
## Borrower
- **Name:** MARTELLI ENTERPRISES INC
- **Address:** 5450 North W Street, PENSACOLA, FL, 32505
- **NAICS:** 451130
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $500K
- **Initial approval:** $500K
- **Forgiven:** $406K (81%)
- **Forgiveness date:** 11/03/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $375K
- **Rent:** $63K
- **Utilities:** $63K
- **Jobs reported:** 44
## Lender
- **Originating:** First Source Federal Credit Union
- **Servicing:** PNC Bank, National Association (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*