# PPP loan: NEWPORT BIODIESEL INC.
> **$650K** approved 01/26/2021 · Paid in Full · Loan `5888538306`
## Borrower
- **Name:** NEWPORT BIODIESEL INC.
- **Address:** 312 Connell Hwy, Newport, RI, 02840-6005
- **NAICS:** 324110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $650K
- **Initial approval:** $650K
- **Forgiven:** $654K (101%)
- **Forgiveness date:** 10/04/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $650K
- **Jobs reported:** 39
## Lender
- **Originating:** Webster Bank National Association
- **Servicing:** Webster Bank National Association (CT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*