# PPP loan: INNOVATIVE MACHINING INC.
> **$256K** approved 04/13/2020 · Paid in Full · Loan `5668197106`
## Borrower
- **Name:** INNOVATIVE MACHINING INC.
- **Address:** 845 Yosemite Way, MILPITAS, CA, 95035-6329
- **NAICS:** 333314
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $256K
- **Initial approval:** $256K
- **Forgiven:** $248K (97%)
- **Forgiveness date:** 07/28/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $205K
- **Rent:** $30K
- **Utilities:** $20K
- **Debt interest:** $1K
- **Jobs reported:** 29
## Lender
- **Originating:** City National Bank
- **Servicing:** City National Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*