# PPP loan: REDWOOD ELECTRIC COOPERATIVE
> **$472K** approved 04/15/2020 · Paid in Full · Loan `1069117202`
## Borrower
- **Name:** REDWOOD ELECTRIC COOPERATIVE
- **Address:** 60 PINE ST, CLEMENTS, MN, 56224-5000
- **NAICS:** 221112
- **Business type:** Cooperative
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $472K
- **Initial approval:** $472K
- **Forgiven:** $477K (101%)
- **Forgiveness date:** 06/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $472K
- **Jobs reported:** 19
## Lender
- **Originating:** Minnwest Bank
- **Servicing:** Minnwest Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*