COLONIAL MOTORS INC (DE) - 2020 PPP Loan Borrower Profile (# 2550867107)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to COLONIAL MOTORS INC. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in Delaware.

Loan Detail

Loan Number

2550867107

SBA Office Code

0341

Processing Method

PPP

Curent Loan Amount

$188,345

Date Loan was Approved

Apr 10, 2020

Amount Forgiven

$190,212.75

Date Loan was Forgiven

Apr 14, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

23,543.13

Payroll Proced

141,258.75

Rent Proceed

23,543.12

Lender

Fulton Bank, National Association

Business Detail

Business Type

Corporation

NAICS

441110

Borrower Location

Smyrna, DE

Project Location

Smyrna, DE

Rural/Urban

Urban

Hubzone

Yes

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.