# PPP loan: MAJESTIC DISTRIBUTING CO INC
> **$310K** approved 04/10/2020 · Paid in Full · Loan `2517497101`
## Borrower
- **Name:** MAJESTIC DISTRIBUTING CO INC
- **Address:** 1255 BOWES RD, ELGIN, IL, 60123-5542
- **NAICS:** 811412
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $310K
- **Initial approval:** $310K
- **Forgiven:** $313K (101%)
- **Forgiveness date:** 04/26/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $257K
- **Rent:** $24K
- **Utilities:** $4K
- **Health care:** $24K
- **Jobs reported:** 21
## Lender
- **Originating:** TBK Bank, SSB
- **Servicing:** TBK Bank, SSB (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*