# PPP loan: TECTON INDUSTRIES, INC.
> **$523K** approved 04/04/2020 · Paid in Full · Loan `4883797009`
## Borrower
- **Name:** TECTON INDUSTRIES, INC.
- **Address:** 1105 E MILWAUKEE ST, SPENCER, IA, 51301-4773
- **NAICS:** 332721
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $523K
- **Initial approval:** $523K
- **Forgiven:** $526K (101%)
- **Forgiveness date:** 11/30/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $428K
- **Rent:** $23K
- **Utilities:** $18K
- **Health care:** $50K
- **Debt interest:** $4K
- **Jobs reported:** 40
## Lender
- **Originating:** Community State Bank
- **Servicing:** Community State Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*