# PPP loan: VAN DAM MOTORS INC
> **$765K** approved 04/06/2020 · Paid in Full · Loan `5603227003`
## Borrower
- **Name:** VAN DAM MOTORS INC
- **Address:** 16269 Van Dam Rd, SOUTH HOLLAND, IL, 60473-2646
- **NAICS:** 441120
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $765K
- **Initial approval:** $765K
- **Forgiven:** $774K (101%)
- **Forgiveness date:** 05/13/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $574K
- **Mortgage interest:** $115K
- **Utilities:** $77K
- **Jobs reported:** 76
## Lender
- **Originating:** Beverly Bank & Trust Company, National Association
- **Servicing:** Beverly Bank & Trust Company, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*