# PPP loan: THE MILL STEEL CO.
> **$5.07M** approved 04/07/2020 · Paid in Full · Loan `6618687009`
## Borrower
- **Name:** THE MILL STEEL CO.
- **Address:** 2905 LUCERNE DR, GRAND RAPIDS, MI, 49546-7160
- **NAICS:** 423510
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.07M
- **Initial approval:** $5.17M
- **Forgiven:** $5.13M (101%)
- **Forgiveness date:** 05/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.84M
- **Rent:** $291K
- **Mortgage interest:** $169K
- **Utilities:** $230K
- **Health care:** $447K
- **Debt interest:** $94K
- **Jobs reported:** 342
## 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*