# PPP loan: MODERN FARM EQUIPMENT INC
> **$261K** approved 04/07/2020 · Paid in Full · Loan `6826397010`
## Borrower
- **Name:** MODERN FARM EQUIPMENT INC
- **Address:** 40486 408th Street, SAUK CENTRE, MN, 56378-8442
- **NAICS:** 424910
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $261K
- **Initial approval:** $280K
- **Forgiven:** $262K (101%)
- **Forgiveness date:** 11/30/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $201K
- **Rent:** $32K
- **Utilities:** $8K
- **Health care:** $15K
- **Debt interest:** $5K
- **Jobs reported:** 20
## Lender
- **Originating:** Stearns Bank National Association
- **Servicing:** Stearns Bank National Association (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*