# PPP loan: BORMANN DEVELOPMENT, INC.
> **$564K** approved 04/03/2020 · Exemption 4 · Loan `4550607000`
## Borrower
- **Name:** BORMANN DEVELOPMENT, INC.
- **Address:** 4121 WAGON TRAIL AVE, LAS VEGAS, NV, 89118-4426
- **NAICS:** 236220
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $564K
- **Initial approval:** $483K
- **Forgiven:** $498K (88%)
- **Forgiveness date:** 11/10/2020
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $423K
- **Utilities:** $141K
- **Jobs reported:** 30
## Lender
- **Originating:** GBank
- **Servicing:** GBank (NV)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*