# PPP loan: SPAP INC.
> **$454K** approved 04/07/2020 · Paid in Full · Loan `7005497002`
## Borrower
- **Name:** SPAP INC.
- **Address:** 3303 I 75 BUSINESS SPUR, SAULT SAINTE MARIE, MI, 49783-3604
- **NAICS:** 541211
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $454K
- **Initial approval:** $454K
- **Forgiven:** $458K (101%)
- **Forgiveness date:** 01/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $341K
- **Rent:** $71K
- **Mortgage interest:** $17K
- **Utilities:** $25K
- **Jobs reported:** 80
## Lender
- **Originating:** Central Savings Bank
- **Servicing:** Central Savings Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*