# PPP loan: NORFOLK MACHINE & WELDING INC.
> **$247K** approved 04/30/2020 · Paid in Full · Loan `5320867301`
## Borrower
- **Name:** NORFOLK MACHINE & WELDING INC.
- **Address:** 1028  27TH ST, NORFOLK, VA, 23517-1019
- **NAICS:** 332710
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $247K
- **Initial approval:** $247K
- **Forgiven:** $249K (101%)
- **Forgiveness date:** 02/17/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $200K
- **Rent:** $20K
- **Utilities:** $27K
- **Jobs reported:** 29
## Lender
- **Originating:** First Bank
- **Servicing:** First Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*