# PPP loan: K & B ASPHALT SEALCOATING INC
> **$225K** approved 04/11/2020 · Paid in Full · Loan `3248017103`
## Borrower
- **Name:** K & B ASPHALT SEALCOATING INC
- **Address:** 120 N. Main St Unit A, Adrian, MI, 49221
- **NAICS:** 238110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $225K
- **Initial approval:** $225K
- **Forgiven:** $227K (101%)
- **Forgiveness date:** 11/05/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $199K
- **Rent:** $6K
- **Mortgage interest:** $3K
- **Utilities:** $6K
- **Health care:** $8K
- **Debt interest:** $5K
- **Jobs reported:** 50
## Lender
- **Originating:** Bank Michigan
- **Servicing:** Bank Michigan (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*