# PPP loan: SPEC TOOL COMPANY INC
> **$789K** approved 01/20/2021 · Paid in Full · Loan `1958118307`
## Borrower
- **Name:** SPEC TOOL COMPANY INC
- **Address:** 389 E Division St, Sparta, MI, 49345-1334
- **NAICS:** 333515
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $789K
- **Initial approval:** $789K
- **Forgiven:** $792K (100%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $789K
- **Utilities:** $1
- **Jobs reported:** 58
## Lender
- **Originating:** Mercantile Bank
- **Servicing:** Mercantile Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*