# PPP loan: MRC INDUSTRIES, INC.
> **$482K** approved 04/07/2020 · Paid in Full · Loan `6500387007`
## Borrower
- **Name:** MRC INDUSTRIES, INC.
- **Address:** 2538 S. 26th St, KALAMAZOO, MI, 49048-9610
- **NAICS:** 624310
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $482K
- **Initial approval:** $482K
- **Forgiven:** $486K (101%)
- **Forgiveness date:** 02/10/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $386K
- **Rent:** $5K
- **Mortgage interest:** $2K
- **Utilities:** $90K
- **Jobs reported:** 56
## 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*