# PPP loan: SWABTECH INC
> **$562K** approved 04/10/2020 · Charged Off · Loan `2456327102`
## Borrower
- **Name:** SWABTECH INC
- **Address:** 8545 WHITE RIVER TRL, MCKINNEY, TX, 75071-0060
- **NAICS:** 211120
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $562K
- **Initial approval:** $562K
- **Forgiven:** $353K (63%)
- **Forgiveness date:** 04/20/2021
- **Status:** Charged Off
- **Term:** 41 months
## Use of funds
- **Payroll:** $421K
- **Rent:** $140K
- **Jobs reported:** 31
## Lender
- **Originating:** First United Bank and Trust Company
- **Servicing:** First United Bank and Trust Company (OK)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*