# PPP loan: MECHANICAL EQUIPMENT COMPANY INC
> **$213K** approved 04/08/2020 · Paid in Full · Loan `8196287005`
## Borrower
- **Name:** MECHANICAL EQUIPMENT COMPANY INC
- **Address:** 243 W STATE RD, ISLAND LAKE, IL, 60042-8448
- **NAICS:** 423720
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $213K
- **Initial approval:** $213K
- **Forgiven:** $214K (101%)
- **Forgiveness date:** 01/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $193K
- **Rent:** $15K
- **Utilities:** $5K
- **Jobs reported:** 13
## Lender
- **Originating:** Itasca Bank & Trust Co.
- **Servicing:** Itasca Bank & Trust Co. (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*