# PPP loan: MODERN DEVELOPMENT COMPANY
> **$703K** approved 01/28/2021 · Paid in Full · Loan `7566928301`
## Borrower
- **Name:** MODERN DEVELOPMENT COMPANY
- **Address:** 3146 Red Hill Ave Ste 220, Costa Mesa, CA, 92626-3415
- **NAICS:** 531390
- **Business type:** Housing Co-op
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $703K
- **Initial approval:** $703K
- **Forgiven:** $714K (102%)
- **Forgiveness date:** 10/20/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $703K
- **Utilities:** $1
- **Jobs reported:** 83
## Lender
- **Originating:** Wells Fargo Bank, National Association
- **Servicing:** Wells Fargo Bank, National Association (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*