ABC PAYMENT SERVICES INC (MN) - 2020 PPP Loan Borrower Profile (# 5416607004)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to ABC PAYMENT SERVICES 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

5416607004

SBA Office Code

0508

Processing Method

PPP

Curent Loan Amount

$1,655,200

Date Loan was Approved

Apr 5, 2020

Amount Forgiven

$1,665,453.04

Date Loan was Forgiven

Nov 25, 2020

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

3,779

Payroll Proced

1,574,610

Rent Proceed

76,811

Lender

Merchants Bank, National Association

Business Detail

Business Type

Subchapter S Corporation

NAICS

238160

Borrower Location

BURNSVILLE, MN

Project Location

BURNSVILLE, MN

Rural/Urban

Urban

Hubzone

Labor Market Information (LMI)

Yes

Jobs Reported

109

Business Age Description

Existing or more than 2 years old

Data Source: SBA.