# PPP loan: MALTON ELECTRIC COMPANY
> **$447K** approved 02/25/2021 · Paid in Full · Loan `4413368501`
## Borrower
- **Name:** MALTON ELECTRIC COMPANY
- **Address:** 1505 Chestnut St W, Virginia, MN, 55792-3418
- **NAICS:** 335313
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $447K
- **Initial approval:** $447K
- **Forgiven:** $449K (101%)
- **Forgiveness date:** 10/20/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $446K
- **Jobs reported:** 32
## Lender
- **Originating:** BMO Bank National Association
- **Servicing:** BMO Bank National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*