# PPP loan: INNOTEC CORP
> **$2.97M** approved 04/10/2020 · Paid in Full · Loan `1618377105`
## Borrower
- **Name:** INNOTEC CORP
- **Address:** 441 E. Roosevelt Ave., ZEELAND, MI, 49464-1257
- **NAICS:** 334419
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.97M
- **Initial approval:** $2.97M
- **Forgiven:** $3.01M (101%)
- **Forgiveness date:** 08/17/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.17M
- **Rent:** $228K
- **Mortgage interest:** $75K
- **Utilities:** $178K
- **Health care:** $321K
- **Jobs reported:** 150
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*