# PPP loan: PRECISION BENDING TECHNOLOGY INC
> **$340K** approved 04/06/2020 · Paid in Full · Loan `5861677001`
## Borrower
- **Name:** PRECISION BENDING TECHNOLOGY INC
- **Address:** 7350 Production Drive, MENTOR, OH, 44060-4859
- **NAICS:** 332996
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $340K
- **Initial approval:** $340K
- **Forgiven:** $343K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $255K
- **Rent:** $85K
- **Jobs reported:** 30
## Lender
- **Originating:** Peoples Bank
- **Servicing:** Peoples Bank (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*