# PPP loan: BORAAM INDUSTRIES, INC.
> **$580K** approved 04/09/2020 · Paid in Full · Loan `9862337004`
## Borrower
- **Name:** BORAAM INDUSTRIES, INC.
- **Address:** 950 TOWER RD, MUNDELEIN, IL, 60060-3823
- **NAICS:** 488119
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $580K
- **Initial approval:** $580K
- **Forgiven:** $248K (43%)
- **Forgiveness date:** 11/04/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $411K
- **Rent:** $160K
- **Utilities:** $9K
- **Jobs reported:** 28
## Lender
- **Originating:** Providence Bank and Trust
- **Servicing:** Providence Bank & Trust (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*