# PPP loan: GARY W CLEM, INC.
> **$2.40M** approved 04/07/2020 · Paid in Full · Loan `6751347000`
## Borrower
- **Name:** GARY W CLEM, INC.
- **Address:** 99 M Avenue, NEVADA, IA, 50201-1549
- **NAICS:** 333111
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.40M
- **Initial approval:** $2.40M
- **Forgiven:** $2.43M (101%)
- **Forgiveness date:** 04/19/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.04M
- **Rent:** $180K
- **Utilities:** $180K
- **Jobs reported:** 158
## Lender
- **Originating:** State Bank & Trust Co.
- **Servicing:** State Bank & Trust Co. (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*