# PPP loan: MEMSCAP
> **$270K** approved 03/20/2021 · Paid in Full · Loan `5528348609`
## Borrower
- **Name:** MEMSCAP
- **Address:** 3021 Cornwallis Rd, Durham, NC, 27709-0146
- **NAICS:** 334413
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $270K
- **Initial approval:** $270K
- **Forgiven:** $271K (100%)
- **Forgiveness date:** 07/21/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $270K
- **Utilities:** $1
- **Jobs reported:** 16
## Lender
- **Originating:** Truist Bank
- **Servicing:** Truist Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*