# PPP loan: OAK TERRACE ASSISTED LIVING OF NORTH MANKATO, LLC
> **$551K** approved 04/03/2020 · Paid in Full · Loan `4556607001`
## Borrower
- **Name:** OAK TERRACE ASSISTED LIVING OF NORTH MANKATO, LLC
- **Address:** 1575 Hoover Drive, MANKATO, MN, 56003-2630
- **NAICS:** 623311
- **Business type:** Partnership
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $551K
- **Initial approval:** $551K
- **Forgiven:** $545K (99%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $441K
- **Mortgage interest:** $30K
- **Utilities:** $20K
- **Health care:** $60K
- **Jobs reported:** 68
## Lender
- **Originating:** ProGrowth Bank
- **Servicing:** ProGrowth Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*