PPP Loan information for Racks inc

$61,900

Racks inc was initially approved for PPP Loan of amount $61,900, the current approved amount is $61,900. The loan was approved on 01/30/2021 by The Falcon National Bank reported 7 jobs and $61,900 was used to fund payroll.

Racks inc is Existing or more than 2 years old

PPP Loan Search / MN / Big Lake / Racks inc

RACKS INC

Date Approved

01/30/2021

SBA Office Code

0508

Processing Method

PPS

Borrower Name

RACKS INC

Borrower Address

16792 198th Ave NW

Borrower City

Big Lake

Borrower State

MN

Borrower Zip

55309-4864

Loan Status Date

10/07/2021

Loan Status

Paid in Full

Term

60

SBA Guaranty Percentage

100

Initial Approval Amount

61900.00

Current Approval Amount

61900.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

328519

Servicing Lender Name

Falcon National Bank

Servicing Lender Address

183 Cedar Dr

Servicing Lender City

FOLEY

Servicing Lender State

MN

Servicing Lender Zip

56329-4401

Rural Urban Indicator

R

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

Big Lake

Project County Name

SHERBURNE

Project State

MN

Project Zip

55309-4864

CD

MN-06

Jobs Reported

7

NAICS Code

722511

Race

White

Ethnicity

Hispanic or Latino

Utilities Proceed

1.00

Payroll Proceed

61898.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Corporation

Originating Lender Location Id

328519

Originating Lender

Falcon National Bank

Originating Lender City

FOLEY

Originating Lender State

MN

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

62273.10

Forgiveness Date

09/13/2021

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