# PPP loan: ALECTRO, INC
> **$250K** approved 05/01/2020 · Paid in Full · Loan `1024217705`
## Borrower
- **Name:** ALECTRO, INC
- **Address:** 6770 CENTRAL AVE STE B, RIVERSIDE, CA, 92504
- **NAICS:** 335311
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $250K
- **Initial approval:** $250K
- **Forgiven:** $253K (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $232K
- **Health care:** $18K
- **Jobs reported:** 10
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*