PPP Loan information for Minnesota motor company

$755,000

Minnesota motor company was initially approved for PPP Loan of amount $755,000, the current approved amount is $755,000. The loan was approved on 04/05/2020 by The FM Bank reported 72 jobs and $755,000 was used to fund payroll.

Minnesota motor company is Existing or more than 2 years old

PPP Loan Search / MN / FERGUS FALLS / Minnesota motor company

MINNESOTA MOTOR COMPANY

Date Approved

04/05/2020

SBA Office Code

0508

Processing Method

PPP

Borrower Name

MINNESOTA MOTOR COMPANY

Borrower Address

1108 PEBBLE LAKE RD

Borrower City

FERGUS FALLS

Borrower State

MN

Borrower Zip

56537-3851

Loan Status Date

04/21/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

755000.00

Current Approval Amount

755000.00

Undisbursed Amount

0.00

Franchise Name

General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer Sales and Service Agreement

Servicing Lender Location Id

38192

Servicing Lender Name

FM Bank

Servicing Lender Address

702 Prentice St

Servicing Lender City

GRANITE FALLS

Servicing Lender State

MN

Servicing Lender Zip

56241-1541

Rural Urban Indicator

R

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

FERGUS FALLS

Project County Name

OTTER TAIL

Project State

MN

Project Zip

56537-3851

CD

MN-07

Jobs Reported

72

NAICS Code

441110

Race

Unanswered

Ethnicity

Not Hispanic or Latino

Utilities Proceed

14800.00

Payroll Proceed

729200.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

11000.00

Debt Interest Proceed

0

Business Type

Corporation

Originating Lender Location Id

38192

Originating Lender

FM Bank

Originating Lender City

GRANITE FALLS

Originating Lender State

MN

Gender

Male Owned

Veteran

Unanswered

Non Profit

Forgiveness Amount

762219.04

Forgiveness Date

03/31/2021

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