# PPP loan: SIMPSON ELECTRIC COMPANY
> **$561K** approved 04/10/2020 · Paid in Full · Loan `1706877102`
## Borrower
- **Name:** SIMPSON ELECTRIC COMPANY
- **Address:** 520 Simpson Ave, Lac du Flambeau, WI, 54538
- **NAICS:** 334515
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $561K
- **Initial approval:** $561K
- **Forgiven:** $566K (101%)
- **Forgiveness date:** 02/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $449K
- **Utilities:** $112K
- **Jobs reported:** 63
## Lender
- **Originating:** Bay Bank
- **Servicing:** Bay Bank (WI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*