# PPP loan: PEDERSEN MACHINE, INC.
> **$260K** approved 04/27/2020 · Paid in Full · Loan `5150257204`
## Borrower
- **Name:** PEDERSEN MACHINE, INC.
- **Address:** 1610 W Main Street, BERESFORD, SD, 57004-1561
- **NAICS:** 333111
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $260K
- **Initial approval:** $260K
- **Forgiven:** $261K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $242K
- **Rent:** $15K
- **Utilities:** $3K
- **Jobs reported:** 23
## Lender
- **Originating:** First Dakota National Bank
- **Servicing:** First Dakota National Bank (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*