# PPP loan: RCT, INCORPORATED
> **$247K** approved 04/07/2020 · Paid in Full · Loan `7571627009`
## Borrower
- **Name:** RCT, INCORPORATED
- **Address:** 1110 ELECTRIC AVE, WAYLAND, MI, 49348-8901
- **NAICS:** 488510
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $247K
- **Initial approval:** $247K
- **Forgiven:** $249K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $247K
- **Jobs reported:** 12
## Lender
- **Originating:** First National Bank of Michigan
- **Servicing:** First National Bank of Michigan (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*