# PPP loan: QUALITY TOOLS & ABRASIVES INC.
> **$526K** approved 01/22/2021 · Paid in Full · Loan `3407818308`
## Borrower
- **Name:** QUALITY TOOLS & ABRASIVES INC.
- **Address:** 605 Bonnie Ln, Elk Grove Village, IL, 60007-1911
- **NAICS:** 423840
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $526K
- **Initial approval:** $526K
- **Forgiven:** $528K (100%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $526K
- **Utilities:** $1
- **Jobs reported:** 38
## Lender
- **Originating:** Providence Bank and Trust
- **Servicing:** Providence Bank & Trust (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*