# PPP loan: M.R. PAVING AND EXCAVATING, INC.
> **$1.14M** approved 04/13/2020 · Paid in Full · Loan `5056187102`
## Borrower
- **Name:** M.R. PAVING AND EXCAVATING, INC.
- **Address:** 2020 North Spring St, NEW ULM, MN, 56073-2277
- **NAICS:** 237310
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.14M
- **Initial approval:** $1.14M
- **Forgiven:** $1.15M (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $854K
- **Mortgage interest:** $171K
- **Utilities:** $114K
- **Jobs reported:** 89
## Lender
- **Originating:** Frandsen Bank & Trust
- **Servicing:** Frandsen Bank & Trust (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*