# PPP loan: MCDERMOTT OIL CO.
> **$335K** approved 02/12/2021 · Paid in Full · Loan `7458298403`
## Borrower
- **Name:** MCDERMOTT OIL CO.
- **Address:** 1501 1st Ave E, Cascade, IA, 52033-7718
- **NAICS:** 447110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $335K
- **Initial approval:** $335K
- **Forgiven:** $336K (100%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $335K
- **Jobs reported:** 55
## Lender
- **Originating:** Farmers & Merchants Savings Bank
- **Servicing:** Farmers & Merchants Savings Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*