# PPP loan: CLINGAN STEEL INC.
> **$1.26M** approved 08/07/2020 · Paid in Full · Loan `5011048207`
## Borrower
- **Name:** CLINGAN STEEL INC.
- **Address:** 2525 ARTHUR AVE, ELK GROVE VILLAGE, IL, 60007-6019
- **NAICS:** 331221
- **Business type:** Subchapter S Corporation
- **Business age:** Change of Ownership
## Loan
- **Approval amount:** $1.26M
- **Initial approval:** $1.26M
- **Forgiven:** $1.27M (101%)
- **Forgiveness date:** 07/09/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $803K
- **Rent:** $206K
- **Utilities:** $25K
- **Health care:** $225K
- **Jobs reported:** 90
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*