# PPP loan: JEMS OF LITCHFIELD
> **$176K** approved 04/09/2020 · Paid in Full · Loan `1059677104`
## Borrower
- **Name:** JEMS OF LITCHFIELD
- **Address:** 174 Simpson Dr PO Box 449, LITCHFIELD, MI, 49252-9601
- **NAICS:** 336390
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $176K
- **Initial approval:** $176K
- **Forgiven:** $177K (101%)
- **Forgiveness date:** 01/12/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $141K
- **Mortgage interest:** $35K
- **Jobs reported:** 20
## Lender
- **Originating:** Southern Michigan Bank & Trust
- **Servicing:** Southern Michigan Bank & Trust (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*