# PPP loan: IOWA LUBE INC.
> **$221K** approved 04/08/2020 · Paid in Full · Loan `8248717006`
## Borrower
- **Name:** IOWA LUBE INC.
- **Address:** 1888 BLAIRS FERRY RD, CEDAR RAPIDS, IA, 52402-5873
- **NAICS:** 811111
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $221K
- **Initial approval:** $221K
- **Forgiven:** $222K (101%)
- **Forgiveness date:** 12/15/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $177K
- **Rent:** $22K
- **Mortgage interest:** $11K
- **Utilities:** $11K
- **Jobs reported:** 36
## Lender
- **Originating:** Farmers State Bank
- **Servicing:** Farmers State Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*