# PPP loan: INDEPENDENCE BUSINESS SUPPLY CO., INC.
> **$625K** approved 04/07/2020 · Paid in Full · Loan `7409167004`
## Borrower
- **Name:** INDEPENDENCE BUSINESS SUPPLY CO., INC.
- **Address:** 4550 HINCKLEY INDUSTRIAL PKWY, CLEVELAND, OH, 44109-6010
- **NAICS:** 453210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $625K
- **Initial approval:** $625K
- **Forgiven:** $630K (101%)
- **Forgiveness date:** 02/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $500K
- **Rent:** $31K
- **Utilities:** $31K
- **Health care:** $62K
- **Jobs reported:** 60
## Lender
- **Originating:** First Federal Savings & Loan Association of Lakewood
- **Servicing:** First Federal Savings & Loan Association of Lakewood (OH)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*