# PPP loan: MIDLAND ENGINEERING COMPANY INC
> **$2.00M** approved 01/25/2021 · Paid in Full · Loan `5098848300`
## Borrower
- **Name:** MIDLAND ENGINEERING COMPANY INC
- **Address:** 52369 SR 933, South Bend, IN, 46637
- **NAICS:** 238160
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.00M
- **Initial approval:** $2.00M
- **Forgiven:** $2.01M (101%)
- **Forgiveness date:** 09/29/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $2.00M
- **Utilities:** $1
- **Jobs reported:** 80
## Lender
- **Originating:** 1st Source Bank
- **Servicing:** 1st Source Bank (IN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*