# PPP loan: LAVELLE MACHINE & TOOL COMPANY, INC.
> **$440K** approved 04/08/2020 · Paid in Full · Loan `8228027003`
## Borrower
- **Name:** LAVELLE MACHINE & TOOL COMPANY, INC.
- **Address:** 485 Groton Road, WESTFORD, MA, 01886-1149
- **NAICS:** 332710
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $440K
- **Initial approval:** $440K
- **Forgiven:** $443K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $375K
- **Rent:** $26K
- **Utilities:** $12K
- **Health care:** $28K
- **Jobs reported:** 42
## Lender
- **Originating:** The Lowell Five Cent Savings Bank
- **Servicing:** The Lowell Five Cent Savings Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*