# PPP loan: PHILLIPS FOODS, INC.
> **$855K** approved 04/04/2020 · Paid in Full · Loan `4951927003`
## Borrower
- **Name:** PHILLIPS FOODS, INC.
- **Address:** 3761 COMMERCE DR STE 413, HALETHORPE, MD, 21227-1633
- **NAICS:** 493110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $855K
- **Initial approval:** $855K
- **Forgiven:** $864K (101%)
- **Forgiveness date:** 05/12/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $641K
- **Mortgage interest:** $107K
- **Utilities:** $107K
- **Jobs reported:** 49
## 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*