# PPP loan: OLSON OIL CO. INC.
> **$250K** approved 04/13/2020 · Paid in Full · Loan `5520557100`
## Borrower
- **Name:** OLSON OIL CO. INC.
- **Address:** 1425 WEST LINCOLN AVE, FERGUS FALLS, MN, 56537-1005
- **NAICS:** 454310
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $250K
- **Initial approval:** $250K
- **Forgiven:** $253K (101%)
- **Forgiveness date:** 06/29/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $212K
- **Rent:** $11K
- **Mortgage interest:** $2K
- **Utilities:** $6K
- **Health care:** $6K
- **Debt interest:** $14K
- **Jobs reported:** 32
## Lender
- **Originating:** Alerus Financial, National Association
- **Servicing:** Alerus Financial, National Association (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*