# PPP loan: CONVERTING SYSTEMS INC.
> **$198K** approved 04/08/2020 · Paid in Full · Loan `8829307010`
## Borrower
- **Name:** CONVERTING SYSTEMS INC.
- **Address:** 1045 REMINGTON RD, SCHAUMBURG, IL, 60173-4517
- **NAICS:** 811310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $198K
- **Initial approval:** $198K
- **Forgiven:** $200K (101%)
- **Forgiveness date:** 01/19/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $159K
- **Rent:** $20K
- **Utilities:** $10K
- **Debt interest:** $10K
- **Jobs reported:** 21
## Lender
- **Originating:** Cornerstone National Bank & Trust Company
- **Servicing:** Cornerstone National Bank & Trust Company (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*