# PPP loan: RESEARCH TOOL CORPORATION
> **$397K** approved 01/22/2021 · Paid in Full · Loan `3479838302`
## Borrower
- **Name:** RESEARCH TOOL CORPORATION
- **Address:** 1401 S Main St, Ovid, MI, 48866-9720
- **NAICS:** 332710
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $397K
- **Initial approval:** $397K
- **Forgiven:** $399K (101%)
- **Forgiveness date:** 09/22/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $397K
- **Utilities:** $1
- **Jobs reported:** 20
## 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*