# PPP loan: MALCO PRODUCTS SBC
> **$2.58M** approved 04/10/2020 · Paid in Full · Loan `1853597101`
## Borrower
- **Name:** MALCO PRODUCTS SBC
- **Address:** 14080 STATE HIGHWAY 55, ANNANDALE, MN, 55302-3457
- **NAICS:** 332216
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.58M
- **Initial approval:** $2.58M
- **Forgiven:** $2.61M (101%)
- **Forgiveness date:** 06/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.50M
- **Utilities:** $77K
- **Jobs reported:** 186
## Lender
- **Originating:** Lake Central Bank
- **Servicing:** Lake Central Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*