# PPP loan: MONTECITO INN, INC.L
> **$300K** approved 04/16/2020 · Paid in Full · Loan `2337407208`
## Borrower
- **Name:** MONTECITO INN, INC.L
- **Address:** 1295 COAST VILLAGE RD, SANTA BARBARA, CA, 93108-2739
- **NAICS:** 712110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $300K
- **Initial approval:** $300K
- **Forgiven:** $304K (101%)
- **Forgiveness date:** 08/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $236K
- **Mortgage interest:** $14K
- **Utilities:** $34K
- **Health care:** $16K
- **Jobs reported:** 48
## Lender
- **Originating:** Montecito Bank & Trust
- **Servicing:** Montecito Bank & Trust (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*