# PPP loan: LANE TOOL & MANUFCTURING CO INC
> **$480K** approved 05/01/2020 · Paid in Full · Loan `1245787705`
## Borrower
- **Name:** LANE TOOL & MANUFCTURING CO INC
- **Address:** 655 SUNDOWN RD, SOUTH ELGIN, IL, 60177
- **NAICS:** 332710
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $480K
- **Initial approval:** $480K
- **Forgiven:** $485K (101%)
- **Forgiveness date:** 05/10/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $395K
- **Rent:** $30K
- **Mortgage interest:** $13K
- **Utilities:** $17K
- **Health care:** $26K
- **Jobs reported:** 300
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*