# PPP loan: MODERN MACHINE CO.
> **$342K** approved 04/03/2020 · Paid in Full · Loan `4447567003`
## Borrower
- **Name:** MODERN MACHINE CO.
- **Address:** 1111 S. WATER ST, BAY CITY, MI, 48708-7069
- **NAICS:** 332710
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $342K
- **Initial approval:** $342K
- **Forgiven:** $344K (101%)
- **Forgiveness date:** 11/05/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $305K
- **Utilities:** $32K
- **Debt interest:** $6K
- **Jobs reported:** 23
## Lender
- **Originating:** 1st State Bank
- **Servicing:** 1st State Bank (MI)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*