# PPP loan: UNIVERSITY OF THE SOUTHWEST
> **$1.23M** approved 04/13/2020 · Paid in Full · Loan `5030877110`
## Borrower
- **Name:** UNIVERSITY OF THE SOUTHWEST
- **Address:** 6610 N LOVINGTON HWY Ste 510, HOBBS, NM, 88240-9114
- **NAICS:** 611310
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.23M
- **Initial approval:** $1.23M
- **Forgiven:** $1.25M (101%)
- **Forgiveness date:** 04/29/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $988K
- **Rent:** $124K
- **Utilities:** $123K
- **Jobs reported:** 133
## Lender
- **Originating:** Lea County State Bank
- **Servicing:** Lea County State Bank (NM)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · MORVS · CC0 1.0*