# PPP loan: STEARNS DRILLING COMPANY
> **$394K** approved 02/08/2021 · Paid in Full · Loan `5381218403`
## Borrower
- **Name:** STEARNS DRILLING COMPANY
- **Address:** 6974 Hammond Ave SE, Caledonia, MI, 49316-8351
- **NAICS:** 238990
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $394K
- **Initial approval:** $394K
- **Forgiven:** $397K (101%)
- **Forgiveness date:** 11/02/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $394K
- **Jobs reported:** 25
## Lender
- **Originating:** Union Bank
- **Servicing:** Union Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*