ADVANCED FARM EQUIPMENT, LLC (MI) - 2020 PPP Loan Borrower Profile (# 7715767005)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to ADVANCED FARM EQUIPMENT, LLC. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in Michigan.

Loan Detail

Loan Number

7715767005

SBA Office Code

0515

Processing Method

PPP

Curent Loan Amount

$289,575

Date Loan was Approved

Apr 8, 2020

Amount Forgiven

$291,907.47

Date Loan was Forgiven

Feb 4, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

14,000

Payroll Proced

217,182

Mortgage Interest Proceed

893

Rent Proceed

24,000

Health Care Proceed

28,000

Debt Interest Proceed

5,500

Lender

Mercantile Bank

Business Detail

Business Type

Limited Liability Company(LLC)

NAICS

333111

Borrower Location

VESTABURG, MI

Project Location

VESTABURG, MI

Rural/Urban

Rural

Hubzone

Yes

Labor Market Information (LMI)

Yes

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.