# PPP loan: INNOVATIVE CONCEPTS ENGINEERING, INC
> **$255K** approved 05/01/2020 · Paid in Full · Loan `5175087709`
## Borrower
- **Name:** INNOVATIVE CONCEPTS ENGINEERING, INC
- **Address:** 6411 IVY LN STE 606, GREENBELT, MD, 20770-1405
- **NAICS:** 541330
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $255K
- **Initial approval:** $191K
- **Forgiven:** $63K (25%)
- **Forgiveness date:** 07/19/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $255K
- **Jobs reported:** 9
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*