# PPP loan: PRECISION MATERIAL HANDLING, INC.
> **$250K** approved 05/01/2020 · Charged Off · Loan `6981597708`
## Borrower
- **Name:** PRECISION MATERIAL HANDLING, INC.
- **Address:** 268 W LINCOLN ST, BANNING, CA, 92220-4904
- **NAICS:** 423830
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $250K
- **Initial approval:** $250K
- **Forgiven:** $132K (53%)
- **Forgiveness date:** 08/27/2021
- **Status:** Charged Off
- **Term:** — months
## Use of funds
- **Payroll:** $250K
- **Jobs reported:** 13
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*