# PPP loan: DYNAMIC TOWING EQUIPMENT & MANUFACTURING INC.
> **$385K** approved 04/05/2020 · Paid in Full · Loan `5093707004`
## Borrower
- **Name:** DYNAMIC TOWING EQUIPMENT & MANUFACTURING INC.
- **Address:** 1120 E. BRAMBLETON AVE, NORFOLK, VA, 23504-3415
- **NAICS:** 488410
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $385K
- **Initial approval:** $385K
- **Forgiven:** $389K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $354K
- **Rent:** $30K
- **Utilities:** $1K
- **Jobs reported:** 30
## Lender
- **Originating:** The Old Point National Bank of Phoebus
- **Servicing:** The Old Point National Bank of Phoebus (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · MORVS · CC0 1.0*