# PPP loan: DOWNEY OIL COMPANY, INC.
> **$331K** approved 04/08/2020 · Paid in Full · Loan `8509517004`
## Borrower
- **Name:** DOWNEY OIL COMPANY, INC.
- **Address:** 325 Joule Street, ALCOA, TN, 37701-2467
- **NAICS:** 424720
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $331K
- **Initial approval:** $331K
- **Forgiven:** $334K (101%)
- **Forgiveness date:** 12/14/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $310K
- **Rent:** $18K
- **Utilities:** $3K
- **Jobs reported:** 25
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*