# PPP loan: THE ARC OF THE SHOALS
> **$615K** approved 04/13/2020 · Paid in Full · Loan `4612637103`
## Borrower
- **Name:** THE ARC OF THE SHOALS
- **Address:** 100 W. LAMAR AVE, TUSCUMBIA, AL, 35674-3139
- **NAICS:** 561311
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $615K
- **Initial approval:** $615K
- **Forgiven:** $619K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $461K
- **Mortgage interest:** $92K
- **Utilities:** $62K
- **Jobs reported:** 99
## Lender
- **Originating:** First Metro Bank
- **Servicing:** First Metro Bank (AL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*