# PPP loan: NORMAN MECHANICAL, INC.
> **$3.16M** approved 04/05/2020 · Paid in Full · Loan `5489457008`
## Borrower
- **Name:** NORMAN MECHANICAL, INC.
- **Address:** 1201 GATEWAY DR, ELGIN, IL, 60124-7856
- **NAICS:** 238220
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.16M
- **Initial approval:** $3.16M
- **Forgiven:** $3.20M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.53M
- **Rent:** $316K
- **Mortgage interest:** $158K
- **Utilities:** $158K
- **Jobs reported:** 140
## Lender
- **Originating:** Cornerstone National Bank & Trust Company
- **Servicing:** Cornerstone National Bank & Trust Company (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*