# PPP loan: MICHIGAN FINANCIAL COMPANIES, INC.
> **$616K** approved 04/15/2020 · Paid in Full · Loan `9259987104`
## Borrower
- **Name:** MICHIGAN FINANCIAL COMPANIES, INC.
- **Address:** 28411 Northwestern Suite 1300, SOUTHFIELD, MI, 48034-5543
- **NAICS:** 541611
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $616K
- **Initial approval:** $616K
- **Forgiven:** $620K (101%)
- **Forgiveness date:** 12/08/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $523K
- **Rent:** $91K
- **Utilities:** $2K
- **Jobs reported:** 64
## Lender
- **Originating:** Mi Bank
- **Servicing:** Mi Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*