# PPP loan: INDUSTRIAL TOOL INC
> **$574K** approved 04/08/2020 · Paid in Full · Loan `8836837003`
## Borrower
- **Name:** INDUSTRIAL TOOL INC
- **Address:** 9210 52ND AVE N, MINNEAPOLIS, MN, 55428-4021
- **NAICS:** 333249
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $574K
- **Initial approval:** $574K
- **Forgiven:** $577K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $460K
- **Mortgage interest:** $34K
- **Utilities:** $20K
- **Health care:** $35K
- **Debt interest:** $25K
- **Jobs reported:** 33
## Lender
- **Originating:** Americana Community Bank
- **Servicing:** Americana Community Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*