# PPP loan: TRUENORTH STEEL, INC.
> **$5.00M** approved 04/03/2020 · Paid in Full · Loan `4397957003`
## Borrower
- **Name:** TRUENORTH STEEL, INC.
- **Address:** 702 13TH AVE, WEST FARGO, ND, 58078-3304
- **NAICS:** 332312
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.00M
- **Initial approval:** $5.00M
- **Forgiven:** $5.06M (101%)
- **Forgiveness date:** 07/01/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.75M
- **Mortgage interest:** $625K
- **Utilities:** $625K
- **Jobs reported:** 358
## Lender
- **Originating:** Cornerstone Bank
- **Servicing:** Cornerstone Bank (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*