# PPP loan: STERLING MOTORS, LTD
> **$1.67M** approved 04/13/2020 · Paid in Full · Loan `5519977100`
## Borrower
- **Name:** STERLING MOTORS, LTD
- **Address:** 300 W. COAST HWY, NEWPORT BEACH, CA, 92663-5639
- **NAICS:** 441110
- **Business type:** Partnership
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.67M
- **Initial approval:** $1.67M
- **Forgiven:** $1.69M (101%)
- **Forgiveness date:** 07/19/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.34M
- **Mortgage interest:** $334K
- **Jobs reported:** 125
## Lender
- **Originating:** Comerica Bank
- **Servicing:** Comerica Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*