# PPP loan: GRACE LABEL CO., INC.
> **$508K** approved 04/06/2020 · Paid in Full · Loan `6116597006`
## Borrower
- **Name:** GRACE LABEL CO., INC.
- **Address:** 6201 WATROUS AVE, DES MOINES, IA, 50321-9658
- **NAICS:** 323111
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $508K
- **Initial approval:** $508K
- **Forgiven:** $511K (101%)
- **Forgiveness date:** 11/19/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $381K
- **Mortgage interest:** $63K
- **Utilities:** $63K
- **Jobs reported:** 43
## Lender
- **Originating:** First National Bank Ames, Iowa
- **Servicing:** First National Bank Ames, Iowa (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*