# PPP loan: FIRST GEAR INC.
> **$267K** approved 04/07/2020 · Paid in Full · Loan `7480917007`
## Borrower
- **Name:** FIRST GEAR INC.
- **Address:** 8668 KAPP DR, PEOSTA, IA, 52068-9568
- **NAICS:** 453998
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $267K
- **Initial approval:** $267K
- **Forgiven:** $269K (101%)
- **Forgiveness date:** 01/28/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $200K
- **Rent:** $17K
- **Mortgage interest:** $17K
- **Utilities:** $17K
- **Debt interest:** $17K
- **Jobs reported:** 20
## Lender
- **Originating:** Dupaco Community CU
- **Servicing:** Dupaco Community CU (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*