# PPP loan: VAN METER INC.
> **$7.41M** approved 04/05/2020 · Paid in Full · Loan `5582087009`
## Borrower
- **Name:** VAN METER INC.
- **Address:** 850 32ND AVE SW, CEDAR RAPIDS, IA, 52404-3913
- **NAICS:** 423610
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $7.41M
- **Initial approval:** $7.41M
- **Forgiven:** $7.51M (101%)
- **Forgiveness date:** 07/01/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $7.21M
- **Rent:** $99K
- **Utilities:** $109K
- **Jobs reported:** 496
## Lender
- **Originating:** Commerce Bank
- **Servicing:** Commerce Bank (MO)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*