# PPP loan: ROCHESTER MOTOR COMPANY
> **$2.17M** approved 04/11/2020 · Paid in Full · Loan `3421137109`
## Borrower
- **Name:** ROCHESTER MOTOR COMPANY
- **Address:** 4900 Highway 52 N, ROCHESTER, MN, 55901-0163
- **NAICS:** 441110
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.17M
- **Initial approval:** $2.17M
- **Forgiven:** $2.20M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.63M
- **Rent:** $272K
- **Utilities:** $272K
- **Jobs reported:** 204
## 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*