# PPP loan: MAGNEY CONSTRUCTION INC
> **$1.04M** approved 04/11/2020 · Paid in Full · Loan `3195197106`
## Borrower
- **Name:** MAGNEY CONSTRUCTION INC
- **Address:** 1401 PARK RD, CHANHASSEN, MN, 55317-9592
- **NAICS:** 238990
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.04M
- **Initial approval:** $1.04M
- **Forgiven:** $1.05M (101%)
- **Forgiveness date:** 12/17/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $891K
- **Rent:** $27K
- **Debt interest:** $122K
- **Jobs reported:** 55
## Lender
- **Originating:** Alerus Financial, National Association
- **Servicing:** Alerus Financial, National Association (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*