# PPP loan: MODERN PROCESS EQUIPMENT CORPORATION
> **$975K** approved 04/07/2020 · Paid in Full · Loan `6801947002`
## Borrower
- **Name:** MODERN PROCESS EQUIPMENT CORPORATION
- **Address:** 3125 S Lolin Avenue, CHICAGO, IL, 60623
- **NAICS:** 333991
- **Business type:** Subchapter S Corporation
- **Business age:** Unanswered
## Loan
- **Approval amount:** $975K
- **Initial approval:** $975K
- **Forgiven:** $981K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $731K
- **Rent:** $244K
- **Jobs reported:** 86
## Lender
- **Originating:** Busey Bank
- **Servicing:** Busey Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*