# PPP loan: MELROSE ELECTRIC, INC
> **$762K** approved 04/03/2020 · Paid in Full · Loan `4355957005`
## Borrower
- **Name:** MELROSE ELECTRIC, INC
- **Address:** 119 8th Ave NW, MELROSE, MN, 56352-1247
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $762K
- **Initial approval:** $762K
- **Forgiven:** $766K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $741K
- **Rent:** $8K
- **Utilities:** $1K
- **Health care:** $11K
- **Jobs reported:** 58
## Lender
- **Originating:** Freeport State Bank
- **Servicing:** Freeport State Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*