# PPP loan: ARWOOD MACHINE CORPORATION
> **$1.25M** approved 04/04/2020 · Paid in Full · Loan `4616717002`
## Borrower
- **Name:** ARWOOD MACHINE CORPORATION
- **Address:** 95 PARKER ST, NEWBURYPORT, MA, 01950-4033
- **NAICS:** 332710
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.25M
- **Initial approval:** $1.17M
- **Forgiven:** $1.26M (101%)
- **Forgiveness date:** 02/12/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Utilities:** $1.25M
- **Jobs reported:** 95
## Lender
- **Originating:** Salem Five Cents Savings Bank
- **Servicing:** Salem Five Cents Savings Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*