# PPP loan: INNOVATIVE MANAGEMENT ASSOCIATES INC
> **$282K** approved 04/27/2020 · Paid in Full · Loan `5392027208`
## Borrower
- **Name:** INNOVATIVE MANAGEMENT ASSOCIATES INC
- **Address:** 8140 RIVER DR, MORTON GROVE, IL, 60053-2637
- **NAICS:** 621999
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $282K
- **Initial approval:** $282K
- **Forgiven:** $285K (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $211K
- **Mortgage interest:** $42K
- **Utilities:** $28K
- **Jobs reported:** 19
## Lender
- **Originating:** Village Bank and Trust, National Association
- **Servicing:** Village Bank and Trust, National Association (IL)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*