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Rahn's Oil & Propane, Inc.

$661,000 PPP Loan in Melrose, Minnesota

Loan Details

Loan Number
1419917109
Date Approved
Apr 10, 2020
Loan Status
Paid in Full
Initial Approval
$661,000
Current Approval
$661,000
Forgiveness Amount
$669,167
Forgiveness Date
Jul 12, 2021
Term
24 months
Draw
First Draw

Business Information

Business Name
Rahn's Oil & Propane, Inc.
Address
1220 E Main St
City
Melrose
State
Minnesota
ZIP Code
56352-1474
Business Type
Corporation
Industry (NAICS)
Wholesale Trade (424710)
Business Age
Existing or more than 2 years old
Jobs Reported
80
Estimated Revenue
$20.6M
Rural/Urban
Rural
Congressional District
MN-07

Loan Use Breakdown

Payroll
$540,500
Rent
$74,500
Utilities
$28,000
Mortgage Interest
$18,000

Lender Information

Servicing Lender
Magnifi Financial Cu
Originating Lender
Magnifi Financial Cu

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