# PPP loan: PRECISION ASSOCIATES INC.
> **$2.34M** approved 04/07/2020 · Paid in Full · Loan `7435217010`
## Borrower
- **Name:** PRECISION ASSOCIATES INC.
- **Address:** 3800 WASHINGTON AVE N, MINNEAPOLIS, MN, 55412-2142
- **NAICS:** 339991
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.34M
- **Initial approval:** $2.34M
- **Forgiven:** $2.36M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.87M
- **Rent:** $234K
- **Utilities:** $234K
- **Jobs reported:** 201
## Lender
- **Originating:** CorTrust Bank National Association
- **Servicing:** CorTrust Bank National Association (SD)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*