# PPP loan: CTI INFOTECH INC
> **$329K** approved 04/28/2020 · Paid in Full · Loan `8616467204`
## Borrower
- **Name:** CTI INFOTECH INC
- **Address:** 1 PIERCE PL, ITASCA, IL, 60143-1253
- **NAICS:** 518210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $329K
- **Initial approval:** $329K
- **Forgiven:** $333K (101%)
- **Forgiveness date:** 06/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $247K
- **Mortgage interest:** $49K
- **Utilities:** $33K
- **Jobs reported:** 13
## Lender
- **Originating:** Schaumburg Bank & Trust Company, National Association
- **Servicing:** Schaumburg Bank & Trust Company, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*