# PPP loan: DRILLMEC INC
> **$994K** approved 04/15/2020 · Paid in Full · Loan `2040537200`
## Borrower
- **Name:** DRILLMEC INC
- **Address:** 18320 IMPERIAL VALLEY DR, HOUSTON, TX, 77050
- **NAICS:** 541990
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $994K
- **Initial approval:** $994K
- **Forgiven:** $1.01M (101%)
- **Forgiveness date:** 09/10/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $745K
- **Utilities:** $248K
- **Jobs reported:** 76
## Lender
- **Originating:** First Source Federal Credit Union
- **Servicing:** PNC Bank, National Association (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*