# PPP loan: SUTTLE MOTOR CORPORATION
> **$1.54M** approved 04/27/2020 · Paid in Full · Loan `5934617203`
## Borrower
- **Name:** SUTTLE MOTOR CORPORATION
- **Address:** 12525 JEFFERSON AVE, NEWPORT NEWS, VA, 23602-4313
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.54M
- **Initial approval:** $1.54M
- **Forgiven:** $1.55M (101%)
- **Forgiveness date:** 12/15/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.36M
- **Rent:** $120K
- **Mortgage interest:** $21K
- **Utilities:** $39K
- **Jobs reported:** 137
## Lender
- **Originating:** The Old Point National Bank of Phoebus
- **Servicing:** The Old Point National Bank of Phoebus (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*