CHRISTENSON ELECTRIC, INC.
PPP Loan approved Apr 15, 2020 through Banner Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $8,211,511.75 | 98.0% |
| Utilities | $83,790.94 | 1.0% |
| Rent / Lease | $83,790.93 | 1.0% |
About This Loan
CHRISTENSON ELECTRIC, INC. received a PPP loan of $8,379,094 approved on Apr 15, 2020. The loan was originated by Banner Bank.
CHRISTENSON ELECTRIC, INC. is a corporation located in PORTLAND, Oregon. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Business Support Services industry (NAICS 561499), part of the Administrative and Support and Waste Management sector of the economy. The applicant reported 395 jobs as retained through this loan.
The SBA forgave $8,474,362.77 of this loan — 101.1% of the total approved amount, with forgiveness recorded on Jun 10, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $8,211,512 to payroll, $83,791 to utilities, $83,791 to rent or lease obligations. The payroll component represents 98.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Oregon, visit the Oregon page. To compare this loan with others in the same industry, see the Business Support Services industry page.