# PPP loan: SCOTCHMAN INDUSTRIES, INC.
> **$565K** approved 04/06/2020 · Paid in Full · Loan `5760477001`
## Borrower
- **Name:** SCOTCHMAN INDUSTRIES, INC.
- **Address:** 180 E US HWY 14, PHILIP, SD, 57567-0850
- **NAICS:** 333517
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $565K
- **Initial approval:** $565K
- **Forgiven:** $569K (101%)
- **Forgiveness date:** 12/15/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $565K
- **Jobs reported:** 63
## Lender
- **Originating:** First National Bank in Philip
- **Servicing:** First National Bank in Philip (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*