# PPP loan: NEWLETT INC.
> **$555K** approved 04/08/2020 · Paid in Full · Loan `8700087004`
## Borrower
- **Name:** NEWLETT INC.
- **Address:** 435 HARRISON ST, ELKHART, IN, 46516-2771
- **NAICS:** 339999
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $555K
- **Initial approval:** $555K
- **Forgiven:** $558K (101%)
- **Forgiveness date:** 12/21/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $416K
- **Mortgage interest:** $139K
- **Jobs reported:** 77
## Lender
- **Originating:** First State Bank of Middlebury
- **Servicing:** First State Bank of Middlebury (IN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*