# PPP loan: GREAT LAKES BINDERY, INC.
> **$260K** approved 04/09/2020 · Paid in Full · Loan `8879677003`
## Borrower
- **Name:** GREAT LAKES BINDERY, INC.
- **Address:** 3741 LINDEN AVE, GRAND RAPIDS, MI, 49548-3427
- **NAICS:** 323120
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $260K
- **Initial approval:** $260K
- **Forgiven:** $262K (101%)
- **Forgiveness date:** 01/07/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $225K
- **Rent:** $20K
- **Utilities:** $12K
- **Debt interest:** $2K
- **Jobs reported:** 21
## Lender
- **Originating:** Mercantile Bank
- **Servicing:** Mercantile Bank (MI)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*