# PPP loan: APPLE MOTOR COMPANY, INC.
> **$515K** approved 04/11/2020 · Paid in Full · Loan `3321207109`
## Borrower
- **Name:** APPLE MOTOR COMPANY, INC.
- **Address:** 1600 Cannon Lane, NORTHFIELD, MN, 55057-3601
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $515K
- **Initial approval:** $515K
- **Forgiven:** $520K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $386K
- **Rent:** $64K
- **Utilities:** $64K
- **Jobs reported:** 45
## Lender
- **Originating:** Alerus Financial, National Association
- **Servicing:** Alerus Financial, National Association (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*