# PPP loan: FARMERS COOPERATIVE ELEVATOR OF OTTOSEN
> **$220K** approved 04/08/2020 · Paid in Full · Loan `8560007010`
## Borrower
- **Name:** FARMERS COOPERATIVE ELEVATOR OF OTTOSEN
- **Address:** 71 Brady Ave., P.O. Box 8, OTTOSEN, IA, 50570-0008
- **NAICS:** 493130
- **Business type:** Cooperative
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $220K
- **Initial approval:** $220K
- **Forgiven:** $222K (101%)
- **Forgiveness date:** 03/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $198K
- **Utilities:** $22K
- **Jobs reported:** 18
## Lender
- **Originating:** Bank Iowa
- **Servicing:** Bank Iowa (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*