PPP Loan information for Scotland oil co. inc.

$185,253

Scotland oil co. inc. was initially approved for PPP Loan of amount $185,253, the current approved amount is $185,253. The loan was approved on 04/08/2020 by The Mercantile Bank reported 16 jobs and $185,253 was used to fund payroll.

Scotland oil co. inc. is Existing or more than 2 years old

PPP Loan Search / MI / ALMA / Scotland oil co. inc.

SCOTLAND OIL CO. INC.

Date Approved

04/08/2020

SBA Office Code

0515

Processing Method

PPP

Borrower Name

SCOTLAND OIL CO. INC.

Borrower Address

2219 GRANT AVE

Borrower City

ALMA

Borrower State

MI

Borrower Zip

48801-2219

Loan Status Date

01/21/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

185252.50

Current Approval Amount

185252.50

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

48801-2219

CD

MI-02

Jobs Reported

16

NAICS Code

424720

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

6000.00

Payroll Proceed

152252.50

Mortgage Interest Proceed

0.00

Rent Proceed

16000.00

Refinance EIDL Proceed

0.00

Health Care Proceed

6000.00

Debt Interest Proceed

5000

Business Type

Subchapter S Corporation

Originating Lender Location Id

122287

Originating Lender

Mercantile Bank

Originating Lender City

GRAND RAPIDS

Originating Lender State

MI

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

186460.45

Forgiveness Date

12/08/2020

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