PPP Loan information for Formula auto repair inc

$71,353

Formula auto repair inc was initially approved for PPP Loan of amount $71,353, the current approved amount is $71,353. The loan was approved on 04/07/2020 by The First Secure Community Bank reported 9 jobs and $71,353 was used to fund payroll.

Formula auto repair inc is Existing or more than 2 years old

PPP Loan Search / IL / MOUNT PROSPECT / Formula auto repair inc

FORMULA AUTO REPAIR INC

Date Approved

04/07/2020

SBA Office Code

0507

Processing Method

PPP

Borrower Name

FORMULA AUTO REPAIR INC

Borrower Address

310 W Northwest Hwy

Borrower City

MOUNT PROSPECT

Borrower State

IL

Borrower Zip

60056-3103

Loan Status Date

05/12/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

71352.50

Current Approval Amount

71352.50

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

124397

Servicing Lender Name

First Secure Community Bank

Servicing Lender Address

670 N Sugar Grove Pkwy Rte 47

Servicing Lender City

Sugar Grove

Servicing Lender State

IL

Servicing Lender Zip

60554

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

MOUNT PROSPECT

Project County Name

COOK

Project State

IL

Project Zip

60056-3103

CD

IL-05

Jobs Reported

9

NAICS Code

811111

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

57082.00

Mortgage Interest Proceed

0.00

Rent Proceed

14270.50

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Subchapter S Corporation

Originating Lender Location Id

124397

Originating Lender

First Secure Community Bank

Originating Lender City

Sugar Grove

Originating Lender State

IL

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

72024.40

Forgiveness Date

03/29/2021

;