# PPP loan: IMS FABRICATION, INC.
> **$358K** approved 04/08/2020 · Paid in Full · Loan `8439267005`
## Borrower
- **Name:** IMS FABRICATION, INC.
- **Address:** 1278 HIGHWAY 461, SOMERSET, KY, 42503-5171
- **NAICS:** 326212
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $358K
- **Initial approval:** $358K
- **Forgiven:** $360K (101%)
- **Forgiveness date:** 11/05/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $299K
- **Rent:** $40K
- **Utilities:** $13K
- **Health care:** $6K
- **Jobs reported:** 29
## Lender
- **Originating:** The Citizens National Bank of Somerset
- **Servicing:** The Citizens National Bank of Somerset (KY)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*