# PPP loan: WATSON ELECTRIC COMPANY, INC.
> **$700K** approved 05/01/2020 · Paid in Full · Loan `1216897802`
## Borrower
- **Name:** WATSON ELECTRIC COMPANY, INC.
- **Address:** 321 SEAGLE STREET, HUNTERSVILLE, NC, 28078
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $700K
- **Initial approval:** $700K
- **Forgiven:** $710K (101%)
- **Forgiveness date:** 11/04/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $700K
- **Jobs reported:** 63
## Lender
- **Originating:** Fifth Third Bank
- **Servicing:** Fifth Third Bank (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*