# PPP loan: COLONIAL MACHINE & TOOL, INC.
> **$553K** approved 04/27/2020 · Paid in Full · Loan `5255827205`
## Borrower
- **Name:** COLONIAL MACHINE & TOOL, INC.
- **Address:** 5 Slavas Ave., Coventry, RI, 02816
- **NAICS:** 333999
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $553K
- **Initial approval:** $553K
- **Forgiven:** $558K (101%)
- **Forgiveness date:** 04/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $553K
- **Jobs reported:** 40
## Lender
- **Originating:** Santander Bank, National Association
- **Servicing:** Santander Bank, National Association (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*