# PPP loan: SHAFER REDI-MIX, INC.
> **$428K** approved 04/28/2020 · Paid in Full · Loan `7376957204`
## Borrower
- **Name:** SHAFER REDI-MIX, INC.
- **Address:** 29150 C DR NORTH, ALBION, MI, 49224-9410
- **NAICS:** 327320
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $428K
- **Initial approval:** $428K
- **Forgiven:** $432K (101%)
- **Forgiveness date:** 06/17/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $321K
- **Health care:** $106K
- **Jobs reported:** 45
## 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*