# PPP loan: PHOENIX ENGINEERING, INC.
> **$708K** approved 04/07/2020 · Paid in Full · Loan `7431257003`
## Borrower
- **Name:** PHOENIX ENGINEERING, INC.
- **Address:** 21132 OLD YORK RD, PARKTON, MD, 21120-9250
- **NAICS:** 541330
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $708K
- **Initial approval:** $708K
- **Forgiven:** $715K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $688K
- **Mortgage interest:** $15K
- **Utilities:** $5K
- **Jobs reported:** 43
## Lender
- **Originating:** Sandy Spring Bank
- **Servicing:** Sandy Spring Bank (MD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*