# PPP loan: MCLACHLAN DRILLING COMPANY
> **$201K** approved 02/11/2021 · Exemption 4 · Loan `7024248402`
## Borrower
- **Name:** MCLACHLAN DRILLING COMPANY
- **Address:** 815 W 7th St, Evart, MI, 49631-9401
- **NAICS:** 213112
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $201K
- **Initial approval:** $201K
- **Forgiven:** $21K (11%)
- **Forgiveness date:** 06/23/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $201K
- **Utilities:** $1
- **Jobs reported:** 17
## Lender
- **Originating:** Isabella Bank
- **Servicing:** Isabella Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*