1ST MERCHANT SERVICES, ,LLC (IL) - 2020 PPP Loan Borrower Profile (# 6658038406)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to 1ST MERCHANT SERVICES, ,LLC. 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 Illinois.

Loan Detail

Loan Number

6658038406

SBA Office Code

0507

Processing Method

PPS

Curent Loan Amount

$41,792

Date Loan was Approved

Feb 10, 2021

Amount Forgiven

$42,109.16

Date Loan was Forgiven

Nov 17, 2021

Loan Status

Paid in Full

Loan Term

60 Months

Utilities Proced

Payroll Proced

41,789

Lender

BMO Bank National Association

Business Detail

Business Type

Limited Liability Company(LLC)

NAICS

522320

Borrower Location

Elgin, IL

Project Location

Elgin, IL

Rural/Urban

Urban

Hubzone

Yes

Labor Market Information (LMI)

Yes

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.