# PPP loan: SHELVING RACK SYSTEMS INC.
> **$253K** approved 02/19/2021 · Paid in Full · Loan `1616708503`
## Borrower
- **Name:** SHELVING RACK SYSTEMS INC.
- **Address:** 4325 Martin Rd, Commerce Township, MI, 48390-4121
- **NAICS:** 337215
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $253K
- **Initial approval:** $253K
- **Forgiven:** $255K (101%)
- **Forgiveness date:** 11/24/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $253K
- **Utilities:** $1
- **Jobs reported:** 16
## Lender
- **Originating:** Citizens Bank, National Association
- **Servicing:** Citizens Bank, National Association (RI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*