# PPP loan: NEWBURYPORT ALE
> **$631K** approved 05/20/2020 · Paid in Full · Loan `9338737402`
## Borrower
- **Name:** NEWBURYPORT ALE
- **Address:** 38 - 40 MERRIMAC ST, NEWBURYPORT, MA, 01950-2024
- **NAICS:** 722511
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $631K
- **Initial approval:** $631K
- **Forgiven:** $635K (101%)
- **Forgiveness date:** 02/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $631K
- **Jobs reported:** 70
## Lender
- **Originating:** Salem Five Cents Savings Bank
- **Servicing:** Salem Five Cents Savings Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*