# PPP loan: OLSON RUG COMPANY
> **$176K** approved 04/15/2020 · Charged Off · Loan `1566047206`
## Borrower
- **Name:** OLSON RUG COMPANY
- **Address:** 832 S CENTRAL AVE, CHICAGO, IL, 60644
- **NAICS:** 442210
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $176K
- **Initial approval:** $176K
- **Forgiven:** $156K (89%)
- **Forgiveness date:** 08/04/2022
- **Status:** Charged Off
- **Term:** 7 months
## Use of funds
- **Payroll:** $176K
- **Jobs reported:** 26
## Lender
- **Originating:** Fifth Third Bank
- **Servicing:** Fifth Third Bank (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*