# PPP loan: UNITED FARMERS COOPERATIVE
> **$3.04M** approved 04/07/2020 · Paid in Full · Loan `7611797009`
## Borrower
- **Name:** UNITED FARMERS COOPERATIVE
- **Address:** 203 W OAK ST, RED OAK, IA, 51566-1432
- **NAICS:** 424510
- **Business type:** Cooperative
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.04M
- **Initial approval:** $3.04M
- **Forgiven:** $3.07M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.00M
- **Mortgage interest:** $25K
- **Utilities:** $11K
- **Jobs reported:** 319
## Lender
- **Originating:** Houghton State Bank
- **Servicing:** Houghton State Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*