# PPP loan: INDUSTRIAL MACHINE & TOOL COMPANY, INC
> **$320K** approved 04/06/2020 · Paid in Full · Loan `6067337001`
## Borrower
- **Name:** INDUSTRIAL MACHINE & TOOL COMPANY, INC
- **Address:** 141 SUNSET BLVD, SOMERSET, KY, 42503-3071
- **NAICS:** 332710
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $320K
- **Initial approval:** $264K
- **Forgiven:** $322K (101%)
- **Forgiveness date:** 11/12/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $240K
- **Rent:** $4K
- **Utilities:** $6K
- **Health care:** $69K
- **Jobs reported:** 24
## Lender
- **Originating:** The Citizens National Bank of Somerset
- **Servicing:** The Citizens National Bank of Somerset (KY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*