# PPP loan: SOMERSET INDUSTRIES, INC.
> **$365K** approved 04/07/2020 · Paid in Full · Loan `6577877010`
## Borrower
- **Name:** SOMERSET INDUSTRIES, INC.
- **Address:** 137 Phoenix Ave, LOWELL, MA, 01852-4930
- **NAICS:** 722310
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $365K
- **Initial approval:** $365K
- **Forgiven:** $368K (101%)
- **Forgiveness date:** 02/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $365K
- **Jobs reported:** 39
## Lender
- **Originating:** Northern Bank and Trust Company
- **Servicing:** Northern Bank and Trust Company (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*