# PPP loan: BASIC ELECTRONICS, INC.
> **$178K** approved 05/04/2020 · Paid in Full · Loan `1507187409`
## Borrower
- **Name:** BASIC ELECTRONICS, INC.
- **Address:** 11371 MONARCH ST, GARDEN GROVE, CA, 92841
- **NAICS:** 334419
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $178K
- **Initial approval:** $178K
- **Forgiven:** $180K (101%)
- **Forgiveness date:** 05/27/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $178K
- **Jobs reported:** 17
## Lender
- **Originating:** US Bank National Association
- **Servicing:** U.S. Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*