# PPP loan: MIKE MOLSTEAD MOTORS, INC.
> **$986K** approved 04/03/2020 · Paid in Full · Loan `4445947006`
## Borrower
- **Name:** MIKE MOLSTEAD MOTORS, INC.
- **Address:** 1501 S Grand Ave, CHARLES CITY, IA, 50616-3671
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $986K
- **Initial approval:** $986K
- **Forgiven:** $995K (101%)
- **Forgiveness date:** 03/18/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $789K
- **Rent:** $99K
- **Utilities:** $99K
- **Jobs reported:** 61
## Lender
- **Originating:** First Citizens Bank
- **Servicing:** First Citizens Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*