PPP Loan information for Stearns cooperative electric association

$215,000

Stearns cooperative electric association was initially approved for PPP Loan of amount $215,000, the current approved amount is $215,000. The loan was approved on 04/11/2020 by The Magnifi Financial CU reported 8 jobs and $215,000 was used to fund payroll.

Stearns cooperative electric association is Existing or more than 2 years old

PPP Loan Search / MN / MELROSE / Stearns cooperative electric association

STEARNS COOPERATIVE ELECTRIC ASSOCIATION

Date Approved

04/11/2020

SBA Office Code

0508

Processing Method

PPP

Borrower Name

STEARNS COOPERATIVE ELECTRIC ASSOCIATION

Borrower Address

900 KRAFT DR SE

Borrower City

MELROSE

Borrower State

MN

Borrower Zip

56352-1455

Loan Status Date

10/16/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

215000.00

Current Approval Amount

215000.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

99711

Servicing Lender Name

Magnifi Financial CU

Servicing Lender Address

20 4th Ave E

Servicing Lender City

MELROSE

Servicing Lender State

MN

Servicing Lender Zip

56352-1356

Rural Urban Indicator

R

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

MELROSE

Project County Name

STEARNS

Project State

MN

Project Zip

56352-1455

CD

MN-07

Jobs Reported

8

NAICS Code

221122

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

215000.00

Mortgage Interest Proceed

0.00

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

99711

Originating Lender

Magnifi Financial CU

Originating Lender City

MELROSE

Originating Lender State

MN

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

151098.40

Forgiveness Date

09/24/2021

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