# PPP loan: HANOVER TOOL INC
> **$224K** approved 04/06/2020 · Paid in Full · Loan `6058677007`
## Borrower
- **Name:** HANOVER TOOL INC
- **Address:** 10417 DOW GIL RD, ASHLAND, VA, 23005-7639
- **NAICS:** 453998
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $224K
- **Initial approval:** $224K
- **Forgiven:** $225K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $224K
- **Jobs reported:** 13
## Lender
- **Originating:** The First Bank and Trust Company
- **Servicing:** The First Bank and Trust Company (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*