PPP Loan information for Merit foods inc

$161,800

Merit foods inc was initially approved for PPP Loan of amount $161,800, the current approved amount is $161,800. The loan was approved on 04/29/2020 by The Commercial Bank reported 32 jobs and $161,800 was used to fund payroll.

Merit foods inc is Existing or more than 2 years old

PPP Loan Search / TN / NEWPORT / Merit foods inc

MERIT FOODS INC

Date Approved

04/29/2020

SBA Office Code

0474

Processing Method

PPP

Borrower Name

MERIT FOODS INC

Borrower Address

822 COSBY HWY

Borrower City

NEWPORT

Borrower State

TN

Borrower Zip

37821-3346

Loan Status Date

12/16/2020

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

161800.00

Current Approval Amount

161800.00

Undisbursed Amount

0.00

Franchise Name

Arby's

Servicing Lender Location Id

67045

Servicing Lender Name

Commercial Bank

Servicing Lender Address

6710 Cumberland Gap Pkwy

Servicing Lender City

HARROGATE

Servicing Lender State

TN

Servicing Lender Zip

37752-8013

Rural Urban Indicator

R

Hubzone Indicator

Y

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

NEWPORT

Project County Name

COCKE

Project State

TN

Project Zip

37821-3346

CD

TN-01

Jobs Reported

32

NAICS Code

722513

Race

White

Ethnicity

Not Hispanic or Latino

Utilities Proceed

0.00

Payroll Proceed

111800.00

Mortgage Interest Proceed

0.00

Rent Proceed

50000.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Subchapter S Corporation

Originating Lender Location Id

67045

Originating Lender

Commercial Bank

Originating Lender City

HARROGATE

Originating Lender State

TN

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

162779.79

Forgiveness Date

12/09/2020

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