# PPP loan: VERPLANK TRUCKING CO
> **$1.01M** approved 04/08/2020 · Paid in Full · Loan `7670587005`
## Borrower
- **Name:** VERPLANK TRUCKING CO
- **Address:** 705 W 2nd St PO Box 8, FERRYSBURG, MI, 49409-0008
- **NAICS:** 484220
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.01M
- **Initial approval:** $1.01M
- **Forgiven:** $1.02M (101%)
- **Forgiveness date:** 12/16/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $856K
- **Rent:** $25K
- **Utilities:** $30K
- **Health care:** $100K
- **Jobs reported:** 63
## 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*