PPP Loan information for Acme electric motor, inc.

$5,504,900

Acme electric motor, inc. was initially approved for PPP Loan of amount $5,504,900, the current approved amount is $5,504,900. The loan was approved on 04/27/2020 by The Alerus Financial, National Association reported 473 jobs and $5,504,900 was used to fund payroll.

Acme electric motor, inc. is Existing or more than 2 years old

PPP Loan Search / ND / GRAND FORKS / Acme electric motor, inc.

ACME ELECTRIC MOTOR, INC.

Date Approved

04/27/2020

SBA Office Code

0875

Processing Method

PPP

Borrower Name

ACME ELECTRIC MOTOR, INC.

Borrower Address

1101 N Washington St

Borrower City

GRAND FORKS

Borrower State

ND

Borrower Zip

58203-0734

Loan Status Date

01/14/2022

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

5504900.00

Current Approval Amount

5504900.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

52795

Servicing Lender Name

Alerus Financial, National Association

Servicing Lender Address

401 DeMers Ave

Servicing Lender City

GRAND FORKS

Servicing Lender State

ND

Servicing Lender Zip

58201-4574

Rural Urban Indicator

U

Hubzone Indicator

Y

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

GRAND FORKS

Project County Name

GRAND FORKS

Project State

ND

Project Zip

58203-0734

CD

ND-

Jobs Reported

473

NAICS Code

423710

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

688113.00

Payroll Proceed

4128675.00

Mortgage Interest Proceed

0.00

Rent Proceed

688112.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Subchapter S Corporation

Originating Lender Location Id

52795

Originating Lender

Alerus Financial, National Association

Originating Lender City

GRAND FORKS

Originating Lender State

ND

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

5595577.94

Forgiveness Date

12/16/2021

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