# PPP loan: NUVAR INC
> **$1.46M** approved 04/05/2020 · Paid in Full · Loan `5259107002`
## Borrower
- **Name:** NUVAR INC
- **Address:** 895 E 40TH ST, HOLLAND, MI, 49423-5397
- **NAICS:** 337214
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.46M
- **Initial approval:** $1.46M
- **Forgiven:** $1.47M (101%)
- **Forgiveness date:** 02/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.23M
- **Rent:** $89K
- **Utilities:** $26K
- **Health care:** $120K
- **Jobs reported:** 138
## Lender
- **Originating:** Mercantile Bank
- **Servicing:** Mercantile Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*