# PPP loan: SCHERER AUTOMOTIVE, INC.
> **$296K** approved 04/04/2020 · Paid in Full · Loan `5047027000`
## Borrower
- **Name:** SCHERER AUTOMOTIVE, INC.
- **Address:** 2300 W Pioneer Pkwy, PEORIA, IL, 61615-1834
- **NAICS:** 423110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $296K
- **Initial approval:** $296K
- **Forgiven:** $299K (101%)
- **Forgiveness date:** 01/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $296K
- **Jobs reported:** 24
## Lender
- **Originating:** Commerce Bank
- **Servicing:** Commerce Bank (MO)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*