# PPP loan: SCHATZ BEARING CORPORATION
> **$1.22M** approved 01/23/2021 · Paid in Full · Loan `5001908310`
## Borrower
- **Name:** SCHATZ BEARING CORPORATION
- **Address:** 10 Fairview Ave, Poughkeepsie, NY, 12601-1312
- **NAICS:** 332991
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.22M
- **Initial approval:** $1.22M
- **Forgiven:** $1.23M (101%)
- **Forgiveness date:** 01/19/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.22M
- **Utilities:** $1
- **Jobs reported:** 75
## Lender
- **Originating:** Rhinebeck Bank
- **Servicing:** Rhinebeck Bank (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*