# PPP loan: MICHIGAN LUTHERAN SEMINARY
> **$494K** approved 04/07/2020 · Paid in Full · Loan `7230497009`
## Borrower
- **Name:** MICHIGAN LUTHERAN SEMINARY
- **Address:** 2777 Hardin St, SAGINAW, MI, 48609
- **NAICS:** 611110
- **Business type:** Non-Profit Organization
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $494K
- **Initial approval:** $494K
- **Forgiven:** $497K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $371K
- **Rent:** $124K
- **Jobs reported:** 41
## Lender
- **Originating:** Town Bank, National Association
- **Servicing:** Town Bank, National Association (WI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*