# PPP loan: PETROLEUM ENGINEERING, INC.
> **$501K** approved 04/28/2020 · Paid in Full · Loan `7417877201`
## Borrower
- **Name:** PETROLEUM ENGINEERING, INC.
- **Address:** 12 WILLIAMS WAY, BELLINGHAM, MA, 02019-1527
- **NAICS:** 236220
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $501K
- **Initial approval:** $501K
- **Forgiven:** $504K (101%)
- **Forgiveness date:** 01/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $450K
- **Mortgage interest:** $48K
- **Utilities:** $3K
- **Jobs reported:** 25
## Lender
- **Originating:** Middlesex Savings Bank
- **Servicing:** Middlesex Savings Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*