# PPP loan: HYDROSTAT INC
> **$411K** approved 04/06/2020 · Paid in Full · Loan `6223527002`
## Borrower
- **Name:** HYDROSTAT INC
- **Address:** 330 1st Ave SE, RICE, MN, 56367-8728
- **NAICS:** 811310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $411K
- **Initial approval:** $411K
- **Forgiven:** $414K (101%)
- **Forgiveness date:** 01/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $321K
- **Rent:** $42K
- **Utilities:** $18K
- **Health care:** $30K
- **Jobs reported:** 35
## Lender
- **Originating:** Deerwood Bank
- **Servicing:** Deerwood Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*