# PPP loan: MCDONOUGH TELEPHONE COOPERATIVE, INC
> **$608K** approved 04/09/2020 · Paid in Full · Loan `8978407009`
## Borrower
- **Name:** MCDONOUGH TELEPHONE COOPERATIVE, INC
- **Address:** 210 North COAL ST, COLCHESTER, IL, 62326-1076
- **NAICS:** 517919
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $608K
- **Initial approval:** $608K
- **Forgiven:** $612K (101%)
- **Forgiveness date:** 12/02/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $520K
- **Health care:** $88K
- **Jobs reported:** 38
## Lender
- **Originating:** Fortress Bank
- **Servicing:** Fortress Bank (IL)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*