# PPP loan: LAPEER INDUSTRIES INC
> **$1.23M** approved 04/15/2020 · Paid in Full · Loan `1024717201`
## Borrower
- **Name:** LAPEER INDUSTRIES INC
- **Address:** 3140 JOHN CONLEY DR, LAPEER, MI, 48446-2987
- **NAICS:** 927110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.23M
- **Initial approval:** $1.23M
- **Forgiven:** $1.25M (101%)
- **Forgiveness date:** 04/14/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $816K
- **Mortgage interest:** $123K
- **Utilities:** $123K
- **Health care:** $170K
- **Jobs reported:** 83
## Lender
- **Originating:** ChoiceOne Bank
- **Servicing:** ChoiceOne Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*