# PPP loan: M.G. ABBOTT INC.
> **$320K** approved 05/01/2020 · Paid in Full · Loan `1314907709`
## Borrower
- **Name:** M.G. ABBOTT INC.
- **Address:** 410 W WATERLOO ST, CANAL WNCHSTR, OH, 43110
- **NAICS:** 493190
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $320K
- **Initial approval:** $320K
- **Forgiven:** $322K (101%)
- **Forgiveness date:** 01/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $290K
- **Utilities:** $2K
- **Health care:** $28K
- **Jobs reported:** 28
## 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*