# PPP loan: SUMMIT FOODS, INC
> **$251K** approved 04/04/2020 · Paid in Full · Loan `4771587000`
## Borrower
- **Name:** SUMMIT FOODS, INC
- **Address:** 825 S BROAD ST, SCOTTSBORO, AL, 35768-2259
- **NAICS:** 722511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $251K
- **Initial approval:** $251K
- **Forgiven:** $253K (101%)
- **Forgiveness date:** 12/09/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $188K
- **Rent:** $23K
- **Utilities:** $40K
- **Jobs reported:** 57
## Lender
- **Originating:** Peoples Independent Bank
- **Servicing:** Peoples Independent Bank (AL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*