# PPP loan: OKOBOJI MOTOR COMPANY
> **$642K** approved 04/07/2020 · Paid in Full · Loan `6792237009`
## Borrower
- **Name:** OKOBOJI MOTOR COMPANY
- **Address:** 2720 17th Street, SPIRIT LAKE, IA, 51360-1081
- **NAICS:** 441110
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $642K
- **Initial approval:** $642K
- **Forgiven:** $650K (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $80K
- **Rent:** $80K
- **Mortgage interest:** $482K
- **Jobs reported:** 64
## 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*