PPP Loan information for Albert lea electric company

$556,900

Albert lea electric company was initially approved for PPP Loan of amount $556,900, the current approved amount is $556,900. The loan was approved on 04/04/2020 by The Arcadian Bank reported 26 jobs and $556,900 was used to fund payroll.

Albert lea electric company is Existing or more than 2 years old

PPP Loan Search / MN / ALBERT LEA / Albert lea electric company

ALBERT LEA ELECTRIC COMPANY

Date Approved

04/04/2020

SBA Office Code

0508

Processing Method

PPP

Borrower Name

ALBERT LEA ELECTRIC COMPANY

Borrower Address

1410 OLSEN DR

Borrower City

ALBERT LEA

Borrower State

MN

Borrower Zip

56007-6305

Loan Status Date

03/03/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

556900.00

Current Approval Amount

556900.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

38215

Servicing Lender Name

Arcadian Bank

Servicing Lender Address

601 N Broadway

Servicing Lender City

HARTLAND

Servicing Lender State

MN

Servicing Lender Zip

56042-9782

Rural Urban Indicator

R

Hubzone Indicator

Y

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

ALBERT LEA

Project County Name

FREEBORN

Project State

MN

Project Zip

56007-6305

CD

MN-01

Jobs Reported

26

NAICS Code

238210

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

20000.00

Payroll Proceed

446000.00

Mortgage Interest Proceed

40000.00

Rent Proceed

40000.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

10900

Business Type

Subchapter S Corporation

Originating Lender Location Id

38215

Originating Lender

Arcadian Bank

Originating Lender City

HARTLAND

Originating Lender State

MN

Gender

Male Owned

Veteran

Unanswered

Non Profit

Forgiveness Amount

550211.37

Forgiveness Date

11/23/2020

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