# PPP loan: SCHULTE AUTOMOTIVE
> **$1.18M** approved 04/04/2020 · Paid in Full · Loan `4800207002`
## Borrower
- **Name:** SCHULTE AUTOMOTIVE
- **Address:** 7601 S. Minnesota Ave, SIOUX FALLS, SD, 57108-2620
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.18M
- **Initial approval:** $1.18M
- **Forgiven:** $1.20M (101%)
- **Forgiveness date:** 09/01/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.18M
- **Jobs reported:** 86
## Lender
- **Originating:** Plains Commerce Bank
- **Servicing:** Plains Commerce Bank (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*