# PPP loan: SOUTHERN METALS RECYCLING, INC.
> **$312K** approved 04/09/2020 · Paid in Full · Loan `8971027010`
## Borrower
- **Name:** SOUTHERN METALS RECYCLING, INC.
- **Address:** 13 WRIGHT ST, WILMINGTON, NC, 28401-5642
- **NAICS:** 423930
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $312K
- **Initial approval:** $397K
- **Forgiven:** $315K (101%)
- **Forgiveness date:** 05/03/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $312K
- **Jobs reported:** 38
## Lender
- **Originating:** Truist Bank
- **Servicing:** Truist Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*