# PPP loan: MAGNOLIA EDUCATIONAL & RESEARCH FOUNDATION
> **$5.46M** approved 04/16/2020 · Paid in Full · Loan `2682177201`
## Borrower
- **Name:** MAGNOLIA EDUCATIONAL & RESEARCH FOUNDATION
- **Address:** 250 E 1ST ST, LOS ANGELES, CA, 90012-3811
- **NAICS:** 541713
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.46M
- **Initial approval:** $5.46M
- **Forgiven:** $5.52M (101%)
- **Forgiveness date:** 06/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $5.46M
- **Jobs reported:** 409
## Lender
- **Originating:** Citibank, N.A.
- **Servicing:** Citibank, N.A. (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*