AMERICAN BAKING SYSTEMS (IA) - 2020 PPP Loan Borrower Profile (# 4387557008)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to AMERICAN BAKING SYSTEMS. 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 Iowa.

Loan Detail

Loan Number

4387557008

SBA Office Code

0736

Processing Method

PPP

Curent Loan Amount

$124,500

Date Loan was Approved

Apr 3, 2020

Amount Forgiven

$125,202.04

Date Loan was Forgiven

Nov 3, 2020

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

4,500

Payroll Proced

100,000

Mortgage Interest Proceed

10,000

Rent Proceed

10,000

Lender

Farmers State Bank

Business Detail

Business Type

Corporation

NAICS

333241

Borrower Location

CEDAR RAPIDS, IA

Project Location

CEDAR RAPIDS, IA

Rural/Urban

Urban

Hubzone

Yes

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.