# PPP loan: CAPITAL INDUCTION INC.
> **$173K** approved 03/31/2021 · Paid in Full · Loan `3515718702`
## Borrower
- **Name:** CAPITAL INDUCTION INC.
- **Address:** 6505 Diplomat Dr, Sterling Heights, MI, 48314-1421
- **NAICS:** 334416
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $173K
- **Initial approval:** $173K
- **Forgiven:** $175K (101%)
- **Forgiveness date:** 04/12/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $173K
- **Jobs reported:** 11
## Lender
- **Originating:** First State Bank
- **Servicing:** First State Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*