# PPP loan: SCHMIDTS INC
> **$511K** approved 04/06/2020 · Paid in Full · Loan `5875317010`
## Borrower
- **Name:** SCHMIDTS INC
- **Address:** 56895 HIGHWAY 136, FAIRBURY, NE, 68352-4522
- **NAICS:** 311511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $511K
- **Initial approval:** $511K
- **Forgiven:** $515K (101%)
- **Forgiveness date:** 01/13/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $434K
- **Rent:** $25K
- **Utilities:** $52K
- **Jobs reported:** 42
## Lender
- **Originating:** Heartland Bank
- **Servicing:** Heartland Bank (NE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*