# PPP loan: RARE EARTH COATINGS, INC.
> **$209K** approved 04/27/2020 · Paid in Full · Loan `5871327201`
## Borrower
- **Name:** RARE EARTH COATINGS, INC.
- **Address:** 412 South Gilman Avenue, LITCHFIELD, MN, 55355
- **NAICS:** 339999
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $209K
- **Initial approval:** $209K
- **Forgiven:** $210K (101%)
- **Forgiveness date:** 11/23/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $209K
- **Jobs reported:** 35
## Lender
- **Originating:** Center National Bank
- **Servicing:** Center National Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*