# PPP loan: SCHENK & BONCHER PC
> **$176K** approved 04/08/2020 · Paid in Full · Loan `8768587008`
## Borrower
- **Name:** SCHENK & BONCHER PC
- **Address:** 600  3 MILE RD, GRAND RAPIDS, MI, 49544-1601
- **NAICS:** 541110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $176K
- **Initial approval:** $176K
- **Forgiven:** $177K (101%)
- **Forgiveness date:** 12/21/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $129K
- **Rent:** $23K
- **Utilities:** $10K
- **Health care:** $11K
- **Debt interest:** $2K
- **Jobs reported:** 14
## 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*