# PPP loan: RIHM MOTOR COMPANY
> **$3.38M** approved 04/06/2020 · Paid in Full · Loan `5602047006`
## Borrower
- **Name:** RIHM MOTOR COMPANY
- **Address:** 425 CONCORD STREET S, SOUTH SAINT PAUL, MN, 55075-1145
- **NAICS:** 532120
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.38M
- **Initial approval:** $3.38M
- **Forgiven:** $3.42M (101%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.88M
- **Rent:** $431K
- **Utilities:** $77K
- **Jobs reported:** 268
## Lender
- **Originating:** Merchants Bank, National Association
- **Servicing:** Merchants Bank, National Association (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*