16 PENNY INC. (MN) - 2020 PPP Loan Borrower Profile (# 5500688310)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to 16 PENNY INC.. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in Minnesota.

Loan Detail

Loan Number

5500688310

SBA Office Code

0508

Processing Method

PPS

Curent Loan Amount

$54,428

Date Loan was Approved

Jan 25, 2021

Amount Forgiven

$54,802.29

Date Loan was Forgiven

Oct 6, 2021

Loan Status

Paid in Full

Loan Term

60 Months

Utilities Proced

Payroll Proced

54,426

Lender

Northern State Bank of Thief River Falls

Business Detail

Business Type

Subchapter S Corporation

NAICS

722410

Borrower Location

Thief River Falls, MN

Project Location

Thief River Falls, MN

Rural/Urban

Rural

Hubzone

Yes

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.