# PPP loan: QUALITY TOOLS & ABRASIVES, INC.
> **$526K** approved 04/09/2020 · Paid in Full · Loan `9893967008`
## Borrower
- **Name:** QUALITY TOOLS & ABRASIVES, INC.
- **Address:** 605 BONNIE LN, ELK GROVE VILLAGE, IL, 60007-1911
- **NAICS:** 423840
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $526K
- **Initial approval:** $526K
- **Forgiven:** $529K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $481K
- **Rent:** $40K
- **Utilities:** $5K
- **Jobs reported:** 40
## 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*