# PPP loan: SILVERSMITH INC
> **$304K** approved 04/07/2020 · Paid in Full · Loan `7019967002`
## Borrower
- **Name:** SILVERSMITH INC
- **Address:** 1370 MILLBOCKER RD, GAYLORD, MI, 49735-7425
- **NAICS:** 237120
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $304K
- **Initial approval:** $304K
- **Forgiven:** $306K (101%)
- **Forgiveness date:** 01/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $240K
- **Rent:** $16K
- **Utilities:** $5K
- **Health care:** $27K
- **Debt interest:** $17K
- **Jobs reported:** 21
## 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*