# PPP loan: MAGNUM ELECTRIC, INC.
> **$2.00M** approved 02/27/2021 · Paid in Full · Loan `5086818501`
## Borrower
- **Name:** MAGNUM ELECTRIC, INC.
- **Address:** 471 Christianson Dr, West Fargo, ND, 58078-8304
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.00M
- **Initial approval:** $2.00M
- **Forgiven:** $2.02M (101%)
- **Forgiveness date:** 01/21/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $2.00M
- **Utilities:** $1
- **Jobs reported:** 187
## Lender
- **Originating:** First International Bank & Trust
- **Servicing:** First International Bank & Trust (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*