# PPP loan: CHICAGO MAGNESIUM CASTING COMPANY
> **$1.46M** approved 04/08/2020 · Paid in Full · Loan `8055327000`
## Borrower
- **Name:** CHICAGO MAGNESIUM CASTING COMPANY
- **Address:** 14101 S. Seeley Avenue, BLUE ISLAND, IL, 60406-3779
- **NAICS:** 332999
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.46M
- **Initial approval:** $1.46M
- **Forgiven:** $1.37M (94%)
- **Forgiveness date:** 02/18/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.25M
- **Mortgage interest:** $17K
- **Utilities:** $53K
- **Health care:** $138K
- **Jobs reported:** 146
## Lender
- **Originating:** Busey Bank
- **Servicing:** Busey Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*