# PPP loan: PALS ELECTRIC INC.
> **$1.06M** approved 03/13/2021 · Paid in Full · Loan `1645488606`
## Borrower
- **Name:** PALS ELECTRIC INC.
- **Address:** 12900 N 1775th Rd, Teutopolis, IL, 62467-3550
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.06M
- **Initial approval:** $1.06M
- **Forgiven:** $1.07M (100%)
- **Forgiveness date:** 08/18/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.06M
- **Utilities:** $1
- **Jobs reported:** 52
## Lender
- **Originating:** Teutopolis State Bank
- **Servicing:** Teutopolis State Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*