# PPP loan: INDEPENDENCE CONTRACT DRILLING, INC
> **$10.00M** approved 04/27/2020 · Paid in Full · Loan `3856107208`
## Borrower
- **Name:** INDEPENDENCE CONTRACT DRILLING, INC
- **Address:** 20475 STATE HIGHWAY 249, HOUSTON, TX, 77070-2755
- **NAICS:** 213111
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $10.00M
- **Initial approval:** $10.00M
- **Forgiven:** $10.13M (101%)
- **Forgiveness date:** 08/17/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $8.00M
- **Mortgage interest:** $1.00M
- **Utilities:** $500K
- **Health care:** $500K
- **Jobs reported:** 500
## Lender
- **Originating:** City Bank
- **Servicing:** City Bank (TX)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*