# PPP loan: INNOVATIVE POWER SYSTEMS INC.
> **$430K** approved 01/29/2021 · Paid in Full · Loan `8606458302`
## Borrower
- **Name:** INNOVATIVE POWER SYSTEMS INC.
- **Address:** 2670 Patton Rd. 2670 Patton Rd., Roseville, MN, 55113
- **NAICS:** 444190
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $430K
- **Initial approval:** $430K
- **Forgiven:** $5K (1%)
- **Forgiveness date:** 07/21/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $430K
- **Jobs reported:** 40
## Lender
- **Originating:** Atlantic Union Bank
- **Servicing:** Atlantic Union Bank (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*