# PPP loan: MCGI, INCORPORATED
> **$190K** approved 04/05/2020 · Exemption 4 · Loan `5106647010`
## Borrower
- **Name:** MCGI, INCORPORATED
- **Address:** 750 Tahquitz Canyon Way Suite 3, PALM SPRINGS, CA, 92262
- **NAICS:** 812112
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $190K
- **Initial approval:** $47K
- **Forgiven:** $100K (53%)
- **Forgiveness date:** 07/22/2021
- **Status:** Exemption 4
- **Term:** 59 months
## Use of funds
- **Payroll:** $30K
- **Rent:** $8K
- **Jobs reported:** 11
## Lender
- **Originating:** Stearns Bank National Association
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*