# PPP loan: AXEL PLASTICS RESEARCH LABORATORIES, INC.
> **$514K** approved 04/04/2020 · Paid in Full · Loan `5022617004`
## Borrower
- **Name:** AXEL PLASTICS RESEARCH LABORATORIES, INC.
- **Address:** 50 CAMBRIDGE DR, MONROE, CT, 06468-2661
- **NAICS:** 325998
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $514K
- **Initial approval:** $514K
- **Forgiven:** $517K (101%)
- **Forgiveness date:** 11/20/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $492K
- **Health care:** $23K
- **Jobs reported:** 41
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*