# PPP loan: VALLEY GEAR & MACHINE INC.
> **$156K** approved 04/13/2020 · Paid in Full · Loan `4910987101`
## Borrower
- **Name:** VALLEY GEAR & MACHINE INC.
- **Address:** 514 Chickory Street, BAD AXE, MI, 48413-1550
- **NAICS:** 332999
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $156K
- **Initial approval:** $135K
- **Forgiven:** $157K (101%)
- **Forgiveness date:** 03/17/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $134K
- **Utilities:** $6K
- **Health care:** $16K
- **Jobs reported:** 13
## Lender
- **Originating:** Bay Port State Bank
- **Servicing:** Bay Port State Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*