# PPP loan: PHILIPS INVESTMENTCO
> **$478K** approved 04/06/2020 · Paid in Full · Loan `6259787001`
## Borrower
- **Name:** PHILIPS INVESTMENTCO
- **Address:** 3401 Louisiana Ave S, MINNEAPOLIS, MN, 55426-4122
- **NAICS:** 713950
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $478K
- **Initial approval:** $478K
- **Forgiven:** $480K (101%)
- **Forgiveness date:** 11/13/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $382K
- **Rent:** $38K
- **Mortgage interest:** $23K
- **Utilities:** $20K
- **Health care:** $14K
- **Jobs reported:** 75
## Lender
- **Originating:** Citizens Independent Bank
- **Servicing:** Citizens Independent Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*