# PPP loan: RAY LAETHEM BUICK GMC INC
> **$1.62M** approved 03/26/2021 · Paid in Full · Loan `1136638703`
## Borrower
- **Name:** RAY LAETHEM BUICK GMC INC
- **Address:** 17677 Mack Ave, Detroit, MI, 48224-1470
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.62M
- **Initial approval:** $1.62M
- **Forgiven:** $1.63M (101%)
- **Forgiveness date:** 03/07/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.62M
- **Utilities:** $1
- **Jobs reported:** 143
## Lender
- **Originating:** Ally Bank
- **Servicing:** Ally Bank (UT)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*