BERGSTROM ELECTRIC INC (ND) - 2020 PPP Loan Borrower Profile (# 4133477106)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to BERGSTROM ELECTRIC 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

4133477106

SBA Office Code

0875

Processing Method

PPP

Curent Loan Amount

$1,862,000

Date Loan was Approved

Apr 12, 2020

Amount Forgiven

$1,876,327.06

Date Loan was Forgiven

Jan 20, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

10,453

Payroll Proced

1,645,936

Rent Proceed

37,160

Health Care Proceed

123,511

Debt Interest Proceed

44,940

Lender

Alerus Financial, National Association

Business Detail

Business Type

Subchapter S Corporation

NAICS

238210

Borrower Location

GRAND FORKS, ND

Project Location

GRAND FORKS, ND

Rural/Urban

Urban

Hubzone

Labor Market Information (LMI)

Jobs Reported

115

Business Age Description

Existing or more than 2 years old

Data Source: SBA.