# PPP loan: SCHERER BROS. LUMBER CO.
> **$3.49M** approved 04/07/2020 · Paid in Full · Loan `7161497004`
## Borrower
- **Name:** SCHERER BROS. LUMBER CO.
- **Address:** 9401 73RD AVE 400, MINNEAPOLIS, MN, 55428-1022
- **NAICS:** 444190
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.49M
- **Initial approval:** $3.49M
- **Forgiven:** $3.54M (101%)
- **Forgiveness date:** 06/09/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $3.49M
- **Jobs reported:** 280
## Lender
- **Originating:** Platinum Bank
- **Servicing:** Platinum Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*