# PPP loan: THE MATERIALS GROUP LLC
> **$500K** approved 04/07/2020 · Paid in Full · Loan `7111487003`
## Borrower
- **Name:** THE MATERIALS GROUP LLC
- **Address:** 575 BYRNE INDUSTRIAL DR, ROCKFORD, MI, 49341-1085
- **NAICS:** 424610
- **Business type:** Partnership
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $500K
- **Initial approval:** $500K
- **Forgiven:** $503K (101%)
- **Forgiveness date:** 12/09/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $429K
- **Rent:** $30K
- **Utilities:** $11K
- **Debt interest:** $30K
- **Jobs reported:** 24
## 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*