# PPP loan: SCHMITTY &  SONS HOLDINGS, INC.
> **$5.64M** approved 04/28/2020 · Paid in Full · Loan `6989057203`
## Borrower
- **Name:** SCHMITTY &  SONS HOLDINGS, INC.
- **Address:** 22750 Pillsbury Avenue, LAKEVILLE, MN, 55044-8345
- **NAICS:** 485410
- **Business type:** Employee Stock Ownership Plan(ESOP)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.64M
- **Initial approval:** $5.64M
- **Forgiven:** $5.70M (101%)
- **Forgiveness date:** 06/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $4.64M
- **Mortgage interest:** $500K
- **Utilities:** $500K
- **Jobs reported:** 500
## Lender
- **Originating:** New Market Bank
- **Servicing:** New Market Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*