# PPP loan: RYDELL MOTOR COMPANY
> **$1.55M** approved 04/11/2020 · Paid in Full · Loan `3490387107`
## Borrower
- **Name:** RYDELL MOTOR COMPANY
- **Address:** 1325 E San Marnan Drive, WATERLOO, IA, 50702-4334
- **NAICS:** 441110
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.55M
- **Initial approval:** $1.55M
- **Forgiven:** $1.57M (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.17M
- **Rent:** $194K
- **Utilities:** $194K
- **Jobs reported:** 138
## 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*