# PPP loan: MALSTROM ELECTRIC, INC.
> **$183K** approved 04/05/2020 · Paid in Full · Loan `5591267006`
## Borrower
- **Name:** MALSTROM ELECTRIC, INC.
- **Address:** 12375 COUNTY HIGHWAY 17, DETROIT LAKES, MN, 56501-7222
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $183K
- **Initial approval:** $183K
- **Forgiven:** $184K (101%)
- **Forgiveness date:** 01/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $183K
- **Jobs reported:** 15
## Lender
- **Originating:** Bell Bank
- **Servicing:** Bell Bank (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*