# PPP loan: MOTORAD OF AMERICA INC
> **$1.29M** approved 04/29/2020 · Paid in Full · Loan `2974067303`
## Borrower
- **Name:** MOTORAD OF AMERICA INC
- **Address:** 916 EMPIRE ST, MOUNT CARMEL, IL, 62863-5102
- **NAICS:** 423140
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.29M
- **Initial approval:** $1.29M
- **Forgiven:** $1.31M (101%)
- **Forgiveness date:** 07/13/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.03M
- **Rent:** $244K
- **Utilities:** $15K
- **Jobs reported:** 117
## 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*