# PPP loan: RESIDUAL MATERIALS, INC
> **$509K** approved 04/14/2020 · Paid in Full · Loan `7618407109`
## Borrower
- **Name:** RESIDUAL MATERIALS, INC
- **Address:** 222 Red Dot Place, GRAND FORKS, ND, 58203-1548
- **NAICS:** 423930
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $509K
- **Initial approval:** $509K
- **Forgiven:** $512K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $382K
- **Mortgage interest:** $64K
- **Utilities:** $64K
- **Jobs reported:** 35
## 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*