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Research Tool Corporation

$354,685 PPP Loan in Ovid, Michigan

Loan Details

Loan Number
7742127007
Date Approved
Apr 8, 2020
Loan Status
Paid in Full
Initial Approval
$354,685
Current Approval
$354,685
Forgiveness Amount
$357,756
Forgiveness Date
Feb 25, 2021
Term
24 months
Draw
First Draw

Business Information

Business Name
Research Tool Corporation
Address
1401 S Main St
City
Ovid
State
Michigan
ZIP Code
48866-9720
Business Type
Corporation
Industry (NAICS)
Manufacturing (332710)
Business Age
Existing or more than 2 years old
Jobs Reported
22
Estimated Revenue
$5.4M
Rural/Urban
Rural
Congressional District
MI-07

Loan Use Breakdown

Payroll
$286,127
Utilities
$15,472
Health Care
$46,178
Debt Interest
$6,908

Lender Information

Servicing Lender
Mercantile Bank
Originating Lender
Mercantile Bank

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