# PPP loan: STERLING MERCHANDISING INC
> **$486K** approved 04/15/2020 · Paid in Full · Loan `8847117103`
## Borrower
- **Name:** STERLING MERCHANDISING INC
- **Address:** URB INDUSTRIAL LUCHETTI CALLE B ESQUINA LOTE 19, BAYAMON, PR, 00959
- **NAICS:** 424430
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $486K
- **Initial approval:** $486K
- **Forgiven:** $493K (101%)
- **Forgiveness date:** 07/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $401K
- **Mortgage interest:** $38K
- **Utilities:** $48K
- **Jobs reported:** 51
## Lender
- **Originating:** Banco Popular de Puerto Rico
- **Servicing:** Banco Popular de Puerto Rico (PR)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*