# PPP loan: STERLING BUSINESS MACHINES, INC.
> **$260K** approved 04/08/2020 · Paid in Full · Loan `7805727008`
## Borrower
- **Name:** STERLING BUSINESS MACHINES, INC.
- **Address:** 501 Locust St, STERLING, IL, 61081-3542
- **NAICS:** 453210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $260K
- **Initial approval:** $260K
- **Forgiven:** $257K (99%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $255K
- **Utilities:** $5K
- **Jobs reported:** 30
## Lender
- **Originating:** Midland States Bank
- **Servicing:** Midland States Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*