# PPP loan: GORMAN'S FURNITURE INC.
> **$878K** approved 03/15/2021 · Paid in Full · Loan `2690998610`
## Borrower
- **Name:** GORMAN'S FURNITURE INC.
- **Address:** 23231 Industrial Park Dr Ste A, Farmington Hills, MI, 48335-2844
- **NAICS:** 442110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $878K
- **Initial approval:** $878K
- **Forgiven:** $883K (101%)
- **Forgiveness date:** 10/06/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $878K
- **Utilities:** $1
- **Jobs reported:** 82
## Lender
- **Originating:** Oxford Bank
- **Servicing:** Oxford Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*