# PPP loan: PHALEN STEEL CONSTRUCTION COMPANY
> **$397K** approved 04/28/2020 · Paid in Full · Loan `1077017305`
## Borrower
- **Name:** PHALEN STEEL CONSTRUCTION COMPANY
- **Address:** 200 US HIGHWAY 52, MENDOTA, IL, 61342-8918
- **NAICS:** 236210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $397K
- **Initial approval:** $397K
- **Forgiven:** $402K (101%)
- **Forgiveness date:** 06/17/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $370K
- **Mortgage interest:** $15K
- **Utilities:** $12K
- **Jobs reported:** 22
## Lender
- **Originating:** First State Bank
- **Servicing:** First State Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*