# PPP loan: WELDING MATERIAL SALES, INC.
> **$310K** approved 04/08/2020 · Paid in Full · Loan `8308897006`
## Borrower
- **Name:** WELDING MATERIAL SALES, INC.
- **Address:** 1340 Reed Rd, GENEVA, IL, 60134-0786
- **NAICS:** 333992
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $310K
- **Initial approval:** $310K
- **Forgiven:** $313K (101%)
- **Forgiveness date:** 05/06/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $260K
- **Rent:** $42K
- **Utilities:** $8K
- **Jobs reported:** 47
## Lender
- **Originating:** Old Second National Bank
- **Servicing:** Old Second National Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*