# PPP loan: NEW DESIGN INC.
> **$271K** approved 04/09/2020 · Paid in Full · Loan `1011477104`
## Borrower
- **Name:** NEW DESIGN INC.
- **Address:** 5693 S. Saginaw Rd, FLINT, MI, 48507-4459
- **NAICS:** 561790
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $271K
- **Initial approval:** $271K
- **Forgiven:** $273K (101%)
- **Forgiveness date:** 01/07/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $219K
- **Rent:** $40K
- **Utilities:** $13K
- **Jobs reported:** 21
## Lender
- **Originating:** ELGA CU
- **Servicing:** ELGA CU (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*