# PPP loan: FEDERICO MOTORS, INC
> **$325K** approved 04/04/2020 · Paid in Full · Loan `4794527007`
## Borrower
- **Name:** FEDERICO MOTORS, INC
- **Address:** 1911 E Edwardsville Rd, WOOD RIVER, IL, 62095-2272
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $325K
- **Initial approval:** $325K
- **Forgiven:** $327K (101%)
- **Forgiveness date:** 12/09/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $244K
- **Mortgage interest:** $41K
- **Utilities:** $41K
- **Jobs reported:** 31
## 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*