# PPP loan: SCHUMACHER ELEVATOR CO INC
> **$5.57M** approved 04/09/2020 · Paid in Full · Loan `9905607003`
## Borrower
- **Name:** SCHUMACHER ELEVATOR CO INC
- **Address:** 1 SCHUMACHER WAY, DENVER, IA, 50622-7729
- **NAICS:** 333921
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.57M
- **Initial approval:** $5.57M
- **Forgiven:** $5.63M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $5.57M
- **Jobs reported:** 229
## Lender
- **Originating:** Heartland Bank
- **Servicing:** Heartland Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*