# PPP loan: REX CONCRETE INC.
> **$171K** approved 04/10/2020 · Paid in Full · Loan `1873647100`
## Borrower
- **Name:** REX CONCRETE INC.
- **Address:** 375 COLLINS RD NE, CEDAR RAPIDS, IA, 52402-3118
- **NAICS:** 238110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $171K
- **Initial approval:** $171K
- **Forgiven:** $172K (101%)
- **Forgiveness date:** 02/12/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $171K
- **Jobs reported:** 8
## Lender
- **Originating:** Farmers & Merchants Savings Bank
- **Servicing:** Farmers & Merchants Savings Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · MORVS · CC0 1.0*