54 INC. (MN) - 2020 PPP Loan Borrower Profile (# 6115017005)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to 54 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

6115017005

SBA Office Code

0508

Processing Method

PPP

Curent Loan Amount

$115,677

Date Loan was Approved

Apr 6, 2020

Amount Forgiven

$116,531.72

Date Loan was Forgiven

Jan 7, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Payroll Proced

115,677

Lender

Border Bank

Business Detail

Business Type

Corporation

NAICS

722511

Borrower Location

ELK RIVER, MN

Project Location

ELK RIVER, MN

Rural/Urban

Rural

Hubzone

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.