# PPP loan: INDUSTRIAL MACHINE PRODUCTS, INC.
> **$541K** approved 04/29/2020 · Paid in Full · Loan `3425667308`
## Borrower
- **Name:** INDUSTRIAL MACHINE PRODUCTS, INC.
- **Address:** 32 LOUCK ST, OXFORD, MI, 48371-4637
- **NAICS:** 331221
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $541K
- **Initial approval:** $541K
- **Forgiven:** $547K (101%)
- **Forgiveness date:** 05/06/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $433K
- **Mortgage interest:** $108K
- **Jobs reported:** 58
## Lender
- **Originating:** Comerica Bank
- **Servicing:** Comerica Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*