# PPP loan: MODERN WELDING COMPANY, INC.
> **$5.82M** approved 04/07/2020 · Paid in Full · Loan `6569997000`
## Borrower
- **Name:** MODERN WELDING COMPANY, INC.
- **Address:** 2880 NEW HARTFORD RD, OWENSBORO, KY, 42303-1321
- **NAICS:** 333992
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.82M
- **Initial approval:** $5.82M
- **Forgiven:** $5.89M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $5.82M
- **Jobs reported:** 419
## Lender
- **Originating:** Independence Bank of Kentucky
- **Servicing:** Independence Bank of Kentucky (KY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*