# PPP loan: TIM AMDAHL AUTOMOTIVE INC
> **$547K** approved 04/06/2020 · Paid in Full · Loan `5628787003`
## Borrower
- **Name:** TIM AMDAHL AUTOMOTIVE INC
- **Address:** 2500 HIGHWAY 61 W, RED WING, MN, 55066-1472
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $547K
- **Initial approval:** $547K
- **Forgiven:** $551K (101%)
- **Forgiveness date:** 12/22/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $443K
- **Rent:** $65K
- **Mortgage interest:** $26K
- **Utilities:** $13K
- **Jobs reported:** 38
## 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*