# PPP loan: SUMMIT ELECTRICAL, INC.
> **$580K** approved 04/10/2020 · Paid in Full · Loan `1501947106`
## Borrower
- **Name:** SUMMIT ELECTRICAL, INC.
- **Address:** 8810 Rehco Rd, Ste B, SAN DIEGO, CA, 92121-3261
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $580K
- **Initial approval:** $580K
- **Forgiven:** $585K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $519K
- **Rent:** $20K
- **Utilities:** $2K
- **Health care:** $35K
- **Debt interest:** $3K
- **Jobs reported:** 47
## Lender
- **Originating:** Pacific Premier Bank
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*