# PPP loan: SALEM TOOLS INC.
> **$1.36M** approved 02/11/2021 · Paid in Full · Loan `7127968409`
## Borrower
- **Name:** SALEM TOOLS INC.
- **Address:** 1602 Midland Rd, Salem, VA, 24153-6427
- **NAICS:** 423840
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.36M
- **Initial approval:** $1.36M
- **Forgiven:** $1.37M (101%)
- **Forgiveness date:** 11/22/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.36M
- **Utilities:** $1
- **Jobs reported:** 105
## Lender
- **Originating:** Freedom First FCU
- **Servicing:** Freedom First FCU (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*