# PPP loan: FORMULATRIX, INC
> **$1.25M** approved 04/07/2020 · Paid in Full · Loan `7258317003`
## Borrower
- **Name:** FORMULATRIX, INC
- **Address:** 10 DeAngelo Dr, BEDFORD, MA, 01730-2204
- **NAICS:** 334516
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.25M
- **Initial approval:** $1.25M
- **Forgiven:** $1.27M (101%)
- **Forgiveness date:** 07/28/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.25M
- **Jobs reported:** 50
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*