# PPP loan: STRANCO, INC.
> **$351K** approved 04/09/2020 · Paid in Full · Loan `8928787009`
## Borrower
- **Name:** STRANCO, INC.
- **Address:** 1306 W US Hwy 20, MICHIGAN CITY, IN, 46360
- **NAICS:** 339999
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $351K
- **Initial approval:** $351K
- **Forgiven:** $354K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $281K
- **Utilities:** $70K
- **Jobs reported:** 30
## Lender
- **Originating:** Horizon Bank
- **Servicing:** Horizon Bank (IN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*