Albert Lea Electric Company
$556,900 PPP Loan in Albert Lea, Minnesota
Loan Details
- Loan Number
- 4694447010
- Date Approved
- Apr 4, 2020
- Loan Status
- Paid in Full
- Initial Approval
- $556,900
- Current Approval
- $556,900
- Forgiveness Amount
- $560,295
- Forgiveness Date
- Feb 12, 2021
- Term
- 24 months
- Draw
- First Draw
Business Information
- Business Name
- Albert Lea Electric Company
- Address
- 1410 Olsen Dr
- City
- Albert Lea
- State
- Minnesota
- ZIP Code
- 56007-6305
- Business Type
- Subchapter S Corporation
- Industry (NAICS)
- Construction (238210)
- Business Age
- Existing or more than 2 years old
- Jobs Reported
- 26
- Estimated Revenue
- $8.6M
- Rural/Urban
- Rural
- Congressional District
- MN-01
Loan Use Breakdown
- Payroll
- $446,000
- Rent
- $40,000
- Utilities
- $20,000
- Mortgage Interest
- $40,000
- Debt Interest
- $10,900
Lender Information
- Servicing Lender
- Arcadian Bank
- Originating Lender
- Arcadian Bank
Other PPP Loans in Albert Lea, MN
| Business | Approved | |
|---|---|---|
| Innovance, INC | $5,100,000 |  Research |
| Mrs. Gerry's Kitchen, Inc. | $2,252,269 | Research |
| Argonaut Minnesota Ventures INC | $2,032,300 | Research |
| Amerinational Community Services LLC | $1,964,000 | Research |
| St. John's Lutheran Home of Alberta Lea | $1,782,735 | Research |
Want to research this company further?
Try NewBizBot free