# PPP loan: AREA MATERIAL INC.
> **$225K** approved 01/28/2021 · Paid in Full · Loan `7480948306`
## Borrower
- **Name:** AREA MATERIAL INC.
- **Address:** 1000 N Washington Ave, Kankakee, IL, 60901-2008
- **NAICS:** 423320
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $225K
- **Initial approval:** $225K
- **Forgiven:** $227K (101%)
- **Forgiveness date:** 11/09/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $225K
- **Jobs reported:** 13
## Lender
- **Originating:** Schaumburg Bank & Trust Company, National Association
- **Servicing:** Schaumburg 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*