# PPP loan: ELECTRIC MOTOR REPAIR INC.
> **$298K** approved 04/13/2020 · Paid in Full · Loan `5020737110`
## Borrower
- **Name:** ELECTRIC MOTOR REPAIR INC.
- **Address:** 2010 N 4TH ST, MINNEAPOLIS, MN, 55411-2705
- **NAICS:** 811310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $298K
- **Initial approval:** $298K
- **Forgiven:** $301K (101%)
- **Forgiveness date:** 06/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $298K
- **Jobs reported:** 21
## Lender
- **Originating:** Northeast Bank
- **Servicing:** Northeast Bank (MN)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*