# PPP loan: NEW REYNOLDS ELECTRIC INC.
> **$1.43M** approved 02/01/2021 · Paid in Full · Loan `1374968409`
## Borrower
- **Name:** NEW REYNOLDS ELECTRIC INC.
- **Address:** 1084 Postal Way, Springfield, OR, 97477-1123
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.43M
- **Initial approval:** $1.43M
- **Forgiven:** $1.44M (101%)
- **Forgiveness date:** 04/19/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.43M
- **Jobs reported:** 98
## Lender
- **Originating:** Oregon Pacific Banking Company dba Oregon Pacific Bank
- **Servicing:** Oregon Pacific Banking Company dba Oregon Pacific Bank (OR)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*