# PPP loan: MEDLER ELECTRIC COMPANY
> **$1.46M** approved 04/07/2020 · Paid in Full · Loan `7350367010`
## Borrower
- **Name:** MEDLER ELECTRIC COMPANY
- **Address:** 2155 Redman Dr, ALMA, MI, 48801-9313
- **NAICS:** 423610
- **Business type:** Employee Stock Ownership Plan(ESOP)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.46M
- **Initial approval:** $1.46M
- **Forgiven:** $1.47M (101%)
- **Forgiveness date:** 11/24/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.27M
- **Health care:** $190K
- **Jobs reported:** 115
## 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*