# PPP loan: PEN MOTORS INC
> **$930K** approved 04/09/2020 · Paid in Full · Loan `1045057105`
## Borrower
- **Name:** PEN MOTORS INC
- **Address:** 4710 Miller Trunk Hwy 0.0, Duluth, MN, 55811-3901
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $930K
- **Initial approval:** $930K
- **Forgiven:** $941K (101%)
- **Forgiveness date:** 06/22/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $807K
- **Rent:** $108K
- **Utilities:** $15K
- **Jobs reported:** 86
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*