# PPP loan: SPECIALTY MACHINE SERVICE INC
> **$232K** approved 04/07/2020 · Paid in Full · Loan `6992957007`
## Borrower
- **Name:** SPECIALTY MACHINE SERVICE INC
- **Address:** 2727 ELMRIDGE DR, GRAND RAPIDS, MI, 49534-1327
- **NAICS:** 423830
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $232K
- **Initial approval:** $232K
- **Forgiven:** $234K (101%)
- **Forgiveness date:** 11/12/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $186K
- **Rent:** $16K
- **Utilities:** $2K
- **Health care:** $27K
- **Debt interest:** $2K
- **Jobs reported:** 18
## 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*