# PPP loan: R&L ELECTRIC INC
> **$1.56M** approved 04/15/2020 · Paid in Full · Loan `1804787201`
## Borrower
- **Name:** R&L ELECTRIC INC
- **Address:** 2318 FORT WORTH HWY, WEATHERFORD, TX, 76087-4904
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.56M
- **Initial approval:** $1.56M
- **Forgiven:** $1.57M (101%)
- **Forgiveness date:** 01/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.51M
- **Rent:** $42K
- **Utilities:** $7K
- **Debt interest:** $350
- **Jobs reported:** 134
## Lender
- **Originating:** PlainsCapital Bank
- **Servicing:** PlainsCapital Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*