# PPP loan: OAK TERRACE HEALTH CARE CENTER OF GAYLORD, LLC
> **$405K** approved 04/03/2020 · Paid in Full · Loan `4557177005`
## Borrower
- **Name:** OAK TERRACE HEALTH CARE CENTER OF GAYLORD, LLC
- **Address:** 640 3RD ST, GAYLORD, MN, 55334-2297
- **NAICS:** 623311
- **Business type:** Partnership
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $405K
- **Initial approval:** $405K
- **Forgiven:** $409K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $324K
- **Rent:** $20K
- **Mortgage interest:** $20K
- **Utilities:** $20K
- **Health care:** $21K
- **Jobs reported:** 54
## 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*