# PPP loan: SCHNEIDER TIRE OUTLET, INC.
> **$1.07M** approved 04/07/2020 · Paid in Full · Loan `7074857007`
## Borrower
- **Name:** SCHNEIDER TIRE OUTLET, INC.
- **Address:** 1454 FRANKLIN ST, MARNE, MI, 49435-8756
- **NAICS:** 423130
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.07M
- **Initial approval:** $1.07M
- **Forgiven:** $1.08M (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $889K
- **Rent:** $86K
- **Utilities:** $31K
- **Health care:** $68K
- **Jobs reported:** 109
## 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*