# PPP loan: MAG WEALTH MANAGEMENT, LLC
> **$151K** approved 04/05/2020 · Paid in Full · Loan `5579197006`
## Borrower
- **Name:** MAG WEALTH MANAGEMENT, LLC
- **Address:** 203 WASHBURNE AVE Suite 200, PAYNESVILLE, MN, 56362-1604
- **NAICS:** 523930
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Change of Ownership
## Loan
- **Approval amount:** $151K
- **Initial approval:** $120K
- **Forgiven:** $152K (101%)
- **Forgiveness date:** 01/19/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $138K
- **Rent:** $10K
- **Utilities:** $2K
- **Jobs reported:** 10
## Lender
- **Originating:** Magnifi Financial CU
- **Servicing:** Magnifi Financial CU (MN)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*