# PPP loan: NORTEC, LLC
> **$160K** approved 04/13/2020 · Paid in Full · Loan `5249977110`
## Borrower
- **Name:** NORTEC, LLC
- **Address:** 1601 JACKSON ST, ALEXANDRIA, LA, 71301-6936
- **NAICS:** 621111
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $160K
- **Initial approval:** $160K
- **Forgiven:** $162K (101%)
- **Forgiveness date:** 04/29/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $136K
- **Rent:** $8K
- **Mortgage interest:** $8K
- **Utilities:** $8K
- **Jobs reported:** 19
## Lender
- **Originating:** The Cottonport Bank
- **Servicing:** The Cottonport Bank (LA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*