# PPP loan: NEWPORT APPAREL CORP
> **$442K** approved 04/13/2020 · Paid in Full · Loan `5241567100`
## Borrower
- **Name:** NEWPORT APPAREL CORP
- **Address:** 1215 W WALNUT ST, COMPTON, CA, 90220-5009
- **NAICS:** 315240
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $442K
- **Initial approval:** $442K
- **Forgiven:** $447K (101%)
- **Forgiveness date:** 07/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $356K
- **Rent:** $63K
- **Utilities:** $8K
- **Health care:** $14K
- **Jobs reported:** 30
## Lender
- **Originating:** OneWest Bank, A Division of First-Citizens Bank and Trust Company
- **Servicing:** First-Citizens Bank & Trust Company (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*