# PPP loan: SHIPMASTERS INC
> **$162K** approved 01/26/2021 · Paid in Full · Loan `5872548304`
## Borrower
- **Name:** SHIPMASTERS INC
- **Address:** 1400 Ocean Ave, Sea Bright, NJ, 07760-2226
- **NAICS:** 722511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $162K
- **Initial approval:** $162K
- **Forgiven:** $163K (101%)
- **Forgiveness date:** 09/29/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $162K
- **Utilities:** $1
- **Jobs reported:** 17
## Lender
- **Originating:** Valley National Bank
- **Servicing:** Valley National Bank (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*