# PPP loan: BERGSTROM ELECTRIC INC
> **$1.86M** approved 04/12/2020 · Paid in Full · Loan `4133477106`
## Borrower
- **Name:** BERGSTROM ELECTRIC INC
- **Address:** 3100 N Washington st, GRAND FORKS, ND, 58203-1224
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.86M
- **Initial approval:** $1.86M
- **Forgiven:** $1.88M (101%)
- **Forgiveness date:** 01/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.65M
- **Rent:** $37K
- **Utilities:** $10K
- **Health care:** $124K
- **Debt interest:** $45K
- **Jobs reported:** 115
## 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*