# PPP loan: VERENDRYE ELECTRIC COOPERATIVE, INC.
> **$1.69M** approved 04/07/2020 · Paid in Full · Loan `7307997005`
## Borrower
- **Name:** VERENDRYE ELECTRIC COOPERATIVE, INC.
- **Address:** 615 Highway 52 W, VELVA, ND, 58790-7417
- **NAICS:** 221122
- **Business type:** Cooperative
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.69M
- **Initial approval:** $1.69M
- **Forgiven:** $1.70M (101%)
- **Forgiveness date:** 05/04/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.69M
- **Jobs reported:** 65
## Lender
- **Originating:** First Western Bank & Trust
- **Servicing:** First Western Bank & Trust (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*