# PPP loan: INDIANAPOLIS RACK & AXLE, INC
> **$153K** approved 04/11/2020 · Paid in Full · Loan `2749007104`
## Borrower
- **Name:** INDIANAPOLIS RACK & AXLE, INC
- **Address:** 2301 E 44 St, INDIANAPOLIS, IN, 46205-2206
- **NAICS:** 811111
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $153K
- **Initial approval:** $153K
- **Forgiven:** $154K (101%)
- **Forgiveness date:** 11/05/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $115K
- **Rent:** $19K
- **Utilities:** $19K
- **Jobs reported:** 22
## Lender
- **Originating:** First Mid Bank & Trust, National Association
- **Servicing:** First Mid Bank & Trust, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*