# PPP loan: ITMATION CORPORATION
> **$228K** approved 04/13/2020 · Paid in Full · Loan `4778227109`
## Borrower
- **Name:** ITMATION CORPORATION
- **Address:** 6436 Penn Ave S, MINNEAPOLIS, MN, 55423-1141
- **NAICS:** 541990
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $228K
- **Initial approval:** $228K
- **Forgiven:** $230K (101%)
- **Forgiveness date:** 04/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $171K
- **Mortgage interest:** $29K
- **Utilities:** $29K
- **Jobs reported:** 18
## Lender
- **Originating:** Alerus Financial, National Association
- **Servicing:** Alerus Financial, National Association (ND)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*