# PPP loan: NEWKO PROTOTYPE, INC.
> **$510K** approved 04/07/2020 · Paid in Full · Loan `6528107006`
## Borrower
- **Name:** NEWKO PROTOTYPE, INC.
- **Address:** 720 VERMONT ST, PALATINE, IL, 60067-7139
- **NAICS:** 333517
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $510K
- **Initial approval:** $510K
- **Forgiven:** $513K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $408K
- **Rent:** $51K
- **Utilities:** $25K
- **Debt interest:** $25K
- **Jobs reported:** 50
## Lender
- **Originating:** Cornerstone National Bank & Trust Company
- **Servicing:** Cornerstone National Bank & Trust Company (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*