# PPP loan: PRECISION SPEED EQUIPMENT, INC
> **$1.20M** approved 04/04/2020 · Paid in Full · Loan `4658167001`
## Borrower
- **Name:** PRECISION SPEED EQUIPMENT, INC
- **Address:** 1400 LAFAYETTE ST, STURGIS, MI, 49091-8905
- **NAICS:** 334512
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.20M
- **Initial approval:** $1.20M
- **Forgiven:** $1.20M (101%)
- **Forgiveness date:** 11/23/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.20M
- **Jobs reported:** 160
## Lender
- **Originating:** Century Bank and Trust
- **Servicing:** Century Bank and Trust (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*