# PPP loan: MEDLER ELECTRIC COMPANY EMPLOYEE STOCK OWNERSHIP PLAN AND TR
> **$1.15M** approved 01/20/2021 · Paid in Full · Loan `2269538303`
## Borrower
- **Name:** MEDLER ELECTRIC COMPANY EMPLOYEE STOCK OWNERSHIP PLAN AND TR
- **Address:** 2155 Redman Dr, Alma, MI, 48801-9313
- **NAICS:** 423610
- **Business type:** Employee Stock Ownership Plan(ESOP)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.15M
- **Initial approval:** $1.15M
- **Forgiven:** $1.15M (101%)
- **Forgiveness date:** 09/23/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.15M
- **Jobs reported:** 113
## 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*