# PPP loan: PRESTON SPECIALTIES INC
> **$200K** approved 04/09/2020 · Paid in Full · Loan `8851177004`
## Borrower
- **Name:** PRESTON SPECIALTIES INC
- **Address:** 103 COFFEE ST, LANESBORO, MN, 55949-9748
- **NAICS:** 322211
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $200K
- **Initial approval:** $200K
- **Forgiven:** $202K (101%)
- **Forgiveness date:** 03/22/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $199K
- **Utilities:** $1K
- **Jobs reported:** 18
## Lender
- **Originating:** Merchants Bank, National Association
- **Servicing:** Merchants Bank, National Association (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*