# PPP loan: SENATE HOTEL MEMPHIS SPE, LLC
> **$1.01M** approved 04/07/2020 · Exemption 4 · Loan `7447547001`
## Borrower
- **Name:** SENATE HOTEL MEMPHIS SPE, LLC
- **Address:** 170 Lt. George W. Lee Avenue, MEMPHIS, TN, 38103
- **NAICS:** 721110
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.01M
- **Initial approval:** $1.01M
- **Forgiven:** $956K (94%)
- **Forgiveness date:** 05/26/2021
- **Status:** Exemption 4
- **Term:** 59 months
## Use of funds
- **Payroll:** $760K
- **Rent:** $800
- **Mortgage interest:** $169K
- **Utilities:** $83K
- **Jobs reported:** 101
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*