# PPP loan: SOO MOTORS INC.
> **$214K** approved 04/15/2020 · Paid in Full · Loan `8420037104`
## Borrower
- **Name:** SOO MOTORS INC.
- **Address:** 391 W 3 Mile Road, SAULT SAINTE MARIE, MI, 49783-0001
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $214K
- **Initial approval:** $214K
- **Forgiven:** $216K (101%)
- **Forgiveness date:** 03/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $160K
- **Mortgage interest:** $27K
- **Utilities:** $27K
- **Jobs reported:** 22
## Lender
- **Originating:** Old Mission Bank
- **Servicing:** 4Front Credit Union (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*