# PPP loan: 150 OTTAWA HOTEL DEVELOPMENT, LLC
> **$231K** approved 04/07/2020 · Paid in Full · Loan `7621347007`
## Borrower
- **Name:** 150 OTTAWA HOTEL DEVELOPMENT, LLC
- **Address:** 32 Market Ave SW Suite 500, GRAND RAPIDS, MI, 49503-4047
- **NAICS:** 531120
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $231K
- **Initial approval:** $231K
- **Forgiven:** $232K (101%)
- **Forgiveness date:** 01/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $172K
- **Mortgage interest:** $21K
- **Utilities:** $25K
- **Health care:** $13K
- **Jobs reported:** 40
## Lender
- **Originating:** Mercantile Bank
- **Servicing:** Mercantile Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*