# PPP loan: PRODUCTION CUTTING SERVICES, INC
> **$425K** approved 04/28/2020 · Paid in Full · Loan `7857687207`
## Borrower
- **Name:** PRODUCTION CUTTING SERVICES, INC
- **Address:** 1033 7th Street Suite 300, EAST MOLINE, IL, 61244
- **NAICS:** 332999
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $425K
- **Initial approval:** $425K
- **Forgiven:** $430K (101%)
- **Forgiveness date:** 08/05/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $300K
- **Rent:** $80K
- **Utilities:** $25K
- **Health care:** $20K
- **Jobs reported:** 44
## Lender
- **Originating:** IH Mississippi Valley Credit Union
- **Servicing:** IH Mississippi Valley Credit Union (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*