# PPP loan: MAGNUM CONTRACTING, INC.
> **$872K** approved 04/07/2020 · Paid in Full · Loan `7019757009`
## Borrower
- **Name:** MAGNUM CONTRACTING, INC.
- **Address:** 4686 13TH AVE, FARGO, ND, 58102-2874
- **NAICS:** 236220
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $872K
- **Initial approval:** $872K
- **Forgiven:** $877K (101%)
- **Forgiveness date:** 12/02/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $610K
- **Rent:** $131K
- **Mortgage interest:** $87K
- **Utilities:** $44K
- **Jobs reported:** 73
## Lender
- **Originating:** Aspire Bank
- **Servicing:** Aspire Bank (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*