# PPP loan: FEDERAL MACHINERY & EQUIPMENT CO
> **$590K** approved 02/17/2021 · Paid in Full · Loan `9561968400`
## Borrower
- **Name:** FEDERAL MACHINERY & EQUIPMENT CO
- **Address:** 8200 Bessemer Ave 8200 Bessemer Ave, Cleveland, OH, 44127-1837
- **NAICS:** 423830
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $590K
- **Initial approval:** $590K
- **Forgiven:** $597K (101%)
- **Forgiveness date:** 04/07/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $590K
- **Utilities:** $1
- **Jobs reported:** 43
## Lender
- **Originating:** PNC Bank, National Association
- **Servicing:** PNC Bank, National Association (DE)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*