# PPP loan: ULTIMATE GAGING SYSTEMS
> **$399K** approved 04/08/2020 · Paid in Full · Loan `8426477010`
## Borrower
- **Name:** ULTIMATE GAGING SYSTEMS
- **Address:** 555 PLYMOUTH AVE, GRAND RAPIDS, MI, 49505-6029
- **NAICS:** 333514
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $399K
- **Initial approval:** $399K
- **Forgiven:** $404K (101%)
- **Forgiveness date:** 08/03/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $282K
- **Rent:** $65K
- **Utilities:** $3K
- **Health care:** $37K
- **Debt interest:** $12K
- **Jobs reported:** 26
## 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*