# PPP loan: LANCO ACQUISITION, LLC
> **$192K** approved 04/09/2020 · Paid in Full · Loan `9731657006`
## Borrower
- **Name:** LANCO ACQUISITION, LLC
- **Address:** 665 10 MILE RD, SPARTA, MI, 49345-9459
- **NAICS:** 423830
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $192K
- **Initial approval:** $192K
- **Forgiven:** $190K (99%)
- **Forgiveness date:** 11/10/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $145K
- **Rent:** $27K
- **Utilities:** $6K
- **Health care:** $8K
- **Debt interest:** $5K
- **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*