# PPP loan: SERVICE MECHANICAL INDUSTRIES
> **$455K** approved 04/07/2020 · Paid in Full · Loan `7222257007`
## Borrower
- **Name:** SERVICE MECHANICAL INDUSTRIES
- **Address:** 700 Cooper Court Suite A, SCHAUMBURG, IL, 60173-4537
- **NAICS:** 238220
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $455K
- **Initial approval:** $455K
- **Forgiven:** $458K (101%)
- **Forgiveness date:** 11/17/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $341K
- **Mortgage interest:** $57K
- **Utilities:** $57K
- **Jobs reported:** 25
## Lender
- **Originating:** Northbrook Bank & Trust Company, National Association
- **Servicing:** Northbrook Bank & Trust Company, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*