# PPP loan: STERLING MACHINE CO., INC.
> **$494K** approved 04/05/2020 · Paid in Full · Loan `5115517008`
## Borrower
- **Name:** STERLING MACHINE CO., INC.
- **Address:** 23 FARRAR ST, LYNN, MA, 01901-1601
- **NAICS:** 332721
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $494K
- **Initial approval:** $494K
- **Forgiven:** $501K (101%)
- **Forgiveness date:** 09/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $440K
- **Health care:** $54K
- **Jobs reported:** 30
## 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*