# PPP loan: PROCESS ENGINEERING & EQUIPMENT COMPANY
> **$580K** approved 04/10/2020 · Paid in Full · Loan `2230397109`
## Borrower
- **Name:** PROCESS ENGINEERING & EQUIPMENT COMPANY
- **Address:** 571 6 MILE RD NW, COMSTOCK PARK, MI, 49321-9594
- **NAICS:** 423830
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $580K
- **Initial approval:** $580K
- **Forgiven:** $584K (101%)
- **Forgiveness date:** 11/17/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $232K
- **Rent:** $100K
- **Utilities:** $29K
- **Health care:** $219K
- **Jobs reported:** 38
## Lender
- **Originating:** Mercantile Bank
- **Servicing:** Mercantile Bank (MI)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*