# PPP loan: NORTHERN INDUSTRIAL TOOL CORP.
> **$475K** approved 04/13/2020 · Exemption 4 · Loan `4396737103`
## Borrower
- **Name:** NORTHERN INDUSTRIAL TOOL CORP.
- **Address:** 8685 Hastings St NE, Blaine, MN, 55449-4249
- **NAICS:** 238120
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $475K
- **Initial approval:** $475K
- **Forgiven:** $393K (83%)
- **Forgiveness date:** 01/26/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $475K
- **Jobs reported:** 16
## Lender
- **Originating:** Highland Bank
- **Servicing:** Highland Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*