# PPP loan: LAPEER STEEL INC
> **$261K** approved 07/29/2020 · Paid in Full · Loan `1123208203`
## Borrower
- **Name:** LAPEER STEEL INC
- **Address:** 3162 HEMPHILL RD, BURTON, MI, 48529-1456
- **NAICS:** 238990
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $261K
- **Initial approval:** $261K
- **Forgiven:** $262K (101%)
- **Forgiveness date:** 03/29/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $239K
- **Rent:** $14K
- **Mortgage interest:** $2K
- **Utilities:** $7K
- **Jobs reported:** 13
## Lender
- **Originating:** ELGA CU
- **Servicing:** ELGA CU (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*