PPP Loan information for Cloverland electric cooperative

$3,654,750

Cloverland electric cooperative was initially approved for PPP Loan of amount $3,654,750, the current approved amount is $3,654,750. The loan was approved on 04/09/2020 by The Central Savings Bank reported 114 jobs and $3,654,750 was used to fund payroll.

Cloverland electric cooperative is Existing or more than 2 years old

PPP Loan Search / MI / SAULT SAINTE MARIE / Cloverland electric cooperative

CLOVERLAND ELECTRIC COOPERATIVE

Date Approved

04/09/2020

SBA Office Code

0515

Processing Method

PPP

Borrower Name

CLOVERLAND ELECTRIC COOPERATIVE

Borrower Address

725 East PORTAGE AVE

Borrower City

SAULT SAINTE MARIE

Borrower State

MI

Borrower Zip

49783-2439

Loan Status Date

01/08/2022

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

3654750.00

Current Approval Amount

3654750.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

36459

Servicing Lender Name

Central Savings Bank

Servicing Lender Address

511 Bingham Ave

Servicing Lender City

SAULT SAINTE MARIE

Servicing Lender State

MI

Servicing Lender Zip

49783-2101

Rural Urban Indicator

R

Hubzone Indicator

Y

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

SAULT SAINTE MARIE

Project County Name

CHIPPEWA

Project State

MI

Project Zip

49783-2439

CD

MI-01

Jobs Reported

114

NAICS Code

221122

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

2923800.00

Mortgage Interest Proceed

730950.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Cooperative

Originating Lender Location Id

36459

Originating Lender

Central Savings Bank

Originating Lender City

SAULT SAINTE MARIE

Originating Lender State

MI

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

3538867.35

Forgiveness Date

12/02/2021

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