# PPP loan: TEXAS STEEL CONVERSION, INC.
> **$9.56M** approved 04/08/2020 · Exemption 4 · Loan `8111617010`
## Borrower
- **Name:** TEXAS STEEL CONVERSION, INC.
- **Address:** 3101 HOLMES RD, HOUSTON, TX, 77051-1146
- **NAICS:** 332996
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $9.56M
- **Initial approval:** $9.56M
- **Forgiven:** $9.20M (96%)
- **Forgiveness date:** 06/11/2021
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $7.17M
- **Mortgage interest:** $1.20M
- **Utilities:** $1.20M
- **Jobs reported:** 495
## Lender
- **Originating:** First Source Federal Credit Union
- **Servicing:** PNC Bank, National Association (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*