ACME ELECTRIC MOTOR, INC. (ND) - 2020 PPP Loan Borrower Profile (# 5980737205)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to ACME ELECTRIC MOTOR, INC.. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in North Dakota.

Loan Detail

Loan Number

5980737205

SBA Office Code

0875

Processing Method

PPP

Curent Loan Amount

$5,504,900

Date Loan was Approved

Apr 27, 2020

Amount Forgiven

$5,595,577.94

Date Loan was Forgiven

Dec 16, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

688,113

Payroll Proced

4,128,675

Rent Proceed

688,112

Lender

Alerus Financial, National Association

Business Detail

Business Type

Subchapter S Corporation

NAICS

423710

Borrower Location

GRAND FORKS, ND

Project Location

GRAND FORKS, ND

Rural/Urban

Urban

Hubzone

Yes

Labor Market Information (LMI)

Jobs Reported

473

Business Age Description

Existing or more than 2 years old

Data Source: SBA.