# PPP loan: TEACHOUT'S INDUSTRIAL CONTRACTING, INC.
> **$394K** approved 07/20/2020 · Paid in Full · Loan `5896598106`
## Borrower
- **Name:** TEACHOUT'S INDUSTRIAL CONTRACTING, INC.
- **Address:** 9572 CHIPPEWA HWY, BEAR LAKE, MI, 49614-9405
- **NAICS:** 236220
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $394K
- **Initial approval:** $394K
- **Forgiven:** $400K (101%)
- **Forgiveness date:** 12/01/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $387K
- **Rent:** $4K
- **Utilities:** $3K
- **Jobs reported:** 24
## Lender
- **Originating:** Honor Bank
- **Servicing:** Honor Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*