AITKIN MOTOR COMPANY (MN) - 2020 PPP Loan Borrower Profile (# 6723217010)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to AITKIN MOTOR COMPANY. 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

6723217010

SBA Office Code

0508

Processing Method

PPP

Curent Loan Amount

$154,855

Date Loan was Approved

Apr 7, 2020

Amount Forgiven

$156,360.53

Date Loan was Forgiven

Mar 31, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

3,880

Payroll Proced

120,000

Rent Proceed

19,000

Debt Interest Proceed

11,975

Lender

Security State Bank of Aitkin

Business Detail

Business Type

Subchapter S Corporation

NAICS

441110

Borrower Location

AITKIN, MN

Project Location

AITKIN, MN

Rural/Urban

Rural

Hubzone

Yes

Labor Market Information (LMI)

Yes

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.