# PPP loan: FAAM ENTERPRISES INC
> **$779K** approved 04/16/2020 · Paid in Full · Loan `2891047204`
## Borrower
- **Name:** FAAM ENTERPRISES INC
- **Address:** 2825 E 13TH ST, AMES, IA, 50010-8616
- **NAICS:** 722511
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $779K
- **Initial approval:** $779K
- **Forgiven:** $784K (101%)
- **Forgiveness date:** 01/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $616K
- **Rent:** $76K
- **Mortgage interest:** $46K
- **Utilities:** $33K
- **Health care:** $7K
- **Jobs reported:** 182
## Lender
- **Originating:** Clear Lake Bank & Trust Company
- **Servicing:** Clear Lake Bank & Trust Company (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*