# PPP loan: MSAXON, INC.
> **$505K** approved 04/07/2020 · Paid in Full · Loan `6546047005`
## Borrower
- **Name:** MSAXON, INC.
- **Address:** 1290 50th Street E., INVER GROVE HEIGHTS, MN, 55077-1285
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $505K
- **Initial approval:** $505K
- **Forgiven:** $510K (101%)
- **Forgiveness date:** 02/12/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $404K
- **Rent:** $34K
- **Utilities:** $12K
- **Health care:** $30K
- **Debt interest:** $25K
- **Jobs reported:** 44
## Lender
- **Originating:** Deerwood Bank
- **Servicing:** Deerwood Bank (MN)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*