# PPP loan: EDDIE GILSTRAP MOTORS, INC.
> **$589K** approved 04/10/2020 · Paid in Full · Loan `1578077103`
## Borrower
- **Name:** EDDIE GILSTRAP MOTORS, INC.
- **Address:** 207 S. MAIN STREET, SALEM, IN, 47167-1319
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $589K
- **Initial approval:** $686K
- **Forgiven:** $593K (101%)
- **Forgiveness date:** 02/04/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $548K
- **Rent:** $1K
- **Mortgage interest:** $3K
- **Utilities:** $15K
- **Health care:** $21K
- **Jobs reported:** 64
## Lender
- **Originating:** First Savings Bank
- **Servicing:** First Savings Bank (IN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*