# PPP loan: PREFERRED POWDER COATING LLC
> **$521K** approved 04/03/2020 · Paid in Full · Loan `4413817008`
## Borrower
- **Name:** PREFERRED POWDER COATING LLC
- **Address:** 10846 170th Ave NW, ELK RIVER, MN, 55330-6335
- **NAICS:** 332812
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $521K
- **Initial approval:** $521K
- **Forgiven:** $524K (101%)
- **Forgiveness date:** 11/09/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $411K
- **Rent:** $52K
- **Utilities:** $52K
- **Health care:** $6K
- **Jobs reported:** 55
## Lender
- **Originating:** First Bank Elk River
- **Servicing:** First Bank Elk River (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*