# PPP loan: RAYCAR GEAR & MACHINE COMPANY
> **$378K** approved 04/13/2020 · Paid in Full · Loan `5023107104`
## Borrower
- **Name:** RAYCAR GEAR & MACHINE COMPANY
- **Address:** 6125 11TH ST, ROCKFORD, IL, 61109-4342
- **NAICS:** 333517
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $378K
- **Initial approval:** $378K
- **Forgiven:** $381K (101%)
- **Forgiveness date:** 01/27/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $302K
- **Rent:** $57K
- **Utilities:** $8K
- **Debt interest:** $11K
- **Jobs reported:** 21
## Lender
- **Originating:** Byron Bank
- **Servicing:** Byron Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*