# PPP loan: CHERRY'S INDUSTRIAL EQUIPMENT
> **$303K** approved 04/07/2020 · Paid in Full · Loan `7648387008`
## Borrower
- **Name:** CHERRY'S INDUSTRIAL EQUIPMENT
- **Address:** 600 Morse Ave, ELK GROVE VILLAGE, IL, 60007-5102
- **NAICS:** 423840
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $303K
- **Initial approval:** $303K
- **Forgiven:** $305K (101%)
- **Forgiveness date:** 12/28/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $283K
- **Rent:** $20K
- **Jobs reported:** 18
## Lender
- **Originating:** First Bank Chicago
- **Servicing:** First Bank Chicago (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*