CHOATE MACHINE & TOOL COMPANY, INCORPORATED (AR) - 2020 PPP Loan Borrower Profile (# 1222627308)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to CHOATE MACHINE & TOOL COMPANY, INCORPORATED. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in Arkansas.

Loan Detail

Loan Number

1222627308

SBA Office Code

0669

Processing Method

PPP

Curent Loan Amount

$118,618.15

Date Loan was Approved

Apr 28, 2020

Amount Forgiven

$119,235.61

Date Loan was Forgiven

Nov 12, 2020

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

29,654.53

Payroll Proced

88,963.62

Lender

First Community Bank

Business Detail

Business Type

Subchapter S Corporation

NAICS

332994

Borrower Location

BALD KNOB, AR

Project Location

BALD KNOB, AR

Rural/Urban

Rural

Hubzone

Yes

Labor Market Information (LMI)

Yes

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.