PPP Loan information for Medler electric company employee stock ownership plan and tr

$1,146,262

Medler electric company employee stock ownership plan and tr was initially approved for PPP Loan of amount $1,146,262, the current approved amount is $1,146,262. The loan was approved on 01/20/2021 by The Mercantile Bank reported 113 jobs and $1,146,262 was used to fund payroll.

Medler electric company employee stock ownership plan and tr is Existing or more than 2 years old

PPP Loan Search / MI / Alma / Medler electric company employee stock ownership plan and tr

MEDLER ELECTRIC COMPANY EMPLOYEE STOCK OWNERSHIP PLAN AND TR

Date Approved

01/20/2021

SBA Office Code

0515

Processing Method

PPS

Borrower Name

MEDLER ELECTRIC COMPANY EMPLOYEE STOCK OWNERSHIP PLAN AND TR

Borrower Address

2155 Redman Dr

Borrower City

Alma

Borrower State

MI

Borrower Zip

48801-9313

Loan Status Date

10/14/2021

Loan Status

Paid in Full

Term

60

SBA Guaranty Percentage

100

Initial Approval Amount

1146262.00

Current Approval Amount

1146262.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

122287

Servicing Lender Name

Mercantile Bank

Servicing Lender Address

310 Leonard St NW

Servicing Lender City

GRAND RAPIDS

Servicing Lender State

MI

Servicing Lender Zip

49504-4224

Rural Urban Indicator

R

Hubzone Indicator

Y

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

Alma

Project County Name

GRATIOT

Project State

MI

Project Zip

48801-9313

CD

MI-02

Jobs Reported

113

NAICS Code

423610

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

1146262.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Employee Stock Ownership Plan(ESOP)

Originating Lender Location Id

122287

Originating Lender

Mercantile Bank

Originating Lender City

GRAND RAPIDS

Originating Lender State

MI

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

1153924.68

Forgiveness Date

09/23/2021

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