# PPP loan: RAYCO MFG INC
> **$150K** approved 04/15/2020 · Paid in Full · Loan `1336487203`
## Borrower
- **Name:** RAYCO MFG INC
- **Address:** 5520 Bridgewood, Sterling Heights, MI, 48310
- **NAICS:** 339999
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $150K
- **Initial approval:** $150K
- **Forgiven:** $152K (101%)
- **Forgiveness date:** 07/14/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $150K
- **Jobs reported:** 10
## Lender
- **Originating:** Flagstar Bank National Association
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*