# PPP loan: TRUE CUT TOOL CO.
> **$240K** approved 03/23/2021 · Paid in Full · Loan `6943228610`
## Borrower
- **Name:** TRUE CUT TOOL CO.
- **Address:** 10153 Detrick Jordan Pike, New Carlisle, OH, 45344-9386
- **NAICS:** 332999
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $240K
- **Initial approval:** $240K
- **Forgiven:** $242K (101%)
- **Forgiveness date:** 11/15/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $240K
- **Utilities:** $1
- **Jobs reported:** 19
## Lender
- **Originating:** Farmers & Merchants Bank
- **Servicing:** Farmers & Merchants Bank (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*