# PPP loan: LANCASTER MACHINE & TOOL INC
> **$317K** approved 04/09/2020 · Paid in Full · Loan `9518017003`
## Borrower
- **Name:** LANCASTER MACHINE & TOOL INC
- **Address:** 1900 INDUSTRIAL PARK ROAD, LANCASTER, WI, 53813-9431
- **NAICS:** 333514
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $317K
- **Initial approval:** $317K
- **Forgiven:** $320K (101%)
- **Forgiveness date:** 02/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $238K
- **Rent:** $20K
- **Mortgage interest:** $20K
- **Utilities:** $20K
- **Debt interest:** $20K
- **Jobs reported:** 23
## Lender
- **Originating:** MidWestOne Bank
- **Servicing:** MidWestOne Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*