# PPP loan: MORELLIS DISTRIBUTING INC
> **$555K** approved 04/15/2020 · Paid in Full · Loan `1520227206`
## Borrower
- **Name:** MORELLIS DISTRIBUTING INC
- **Address:** 6000 Highway 2 E, MINOT, ND, 58701-9317
- **NAICS:** 424820
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $555K
- **Initial approval:** $555K
- **Forgiven:** $561K (101%)
- **Forgiveness date:** 07/07/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $555K
- **Jobs reported:** 55
## Lender
- **Originating:** First International Bank & Trust
- **Servicing:** First International Bank & Trust (ND)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*