# PPP loan: RAYCO STEEL PROCESS INC.
> **$194K** approved 04/15/2020 · Paid in Full · Loan `1498197202`
## Borrower
- **Name:** RAYCO STEEL PROCESS INC.
- **Address:** 207 S. Lincoln St, WARSAW, IN, 46580-3771
- **NAICS:** 339112
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $194K
- **Initial approval:** $194K
- **Forgiven:** $195K (101%)
- **Forgiveness date:** 01/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $155K
- **Rent:** $10K
- **Utilities:** $10K
- **Health care:** $16K
- **Debt interest:** $3K
- **Jobs reported:** 18
## Lender
- **Originating:** Lake City Bank
- **Servicing:** Lake City Bank (IN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*