PPP Loan information for Spec tool company, inc.

$1,012,395

Spec tool company, inc. was initially approved for PPP Loan of amount $1,012,395, the current approved amount is $1,012,395. The loan was approved on 04/07/2020 by The Mercantile Bank reported 74 jobs and $1,012,395 was used to fund payroll.

Spec tool company, inc. is Existing or more than 2 years old

PPP Loan Search / MI / SPARTA / Spec tool company, inc.

SPEC TOOL COMPANY, INC.

Date Approved

04/07/2020

SBA Office Code

0515

Processing Method

PPP

Borrower Name

SPEC TOOL COMPANY, INC.

Borrower Address

389 E DIVISION ST PO BOX 127

Borrower City

SPARTA

Borrower State

MI

Borrower Zip

49345-1345

Loan Status Date

05/11/2022

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

1012395.00

Current Approval Amount

1012395.00

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

U

Hubzone Indicator

N

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

SPARTA

Project County Name

KENT

Project State

MI

Project Zip

49345-1345

CD

MI-03

Jobs Reported

74

NAICS Code

333515

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

39826.00

Payroll Proceed

892809.00

Mortgage Interest Proceed

0.00

Rent Proceed

50800.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

28960

Business Type

Subchapter S Corporation

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

968893.57

Forgiveness Date

11/10/2020

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