# PPP loan: PROGRESS MACHINE INC
> **$242K** approved 03/20/2021 · Paid in Full · Loan `5162468604`
## Borrower
- **Name:** PROGRESS MACHINE INC
- **Address:** 9622 Business Hwy 90 East, Morgan City, LA, 70380
- **NAICS:** 811310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $242K
- **Initial approval:** $242K
- **Forgiven:** $245K (101%)
- **Forgiveness date:** 06/23/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $242K
- **Utilities:** $1
- **Jobs reported:** 16
## Lender
- **Originating:** M C Bank & Trust Co.
- **Servicing:** M C Bank & Trust Co. (LA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*