# PPP loan: R.A. REED ELECTRIC COMPANY
> **$433K** approved 04/15/2020 · Paid in Full · Loan `1847797204`
## Borrower
- **Name:** R.A. REED ELECTRIC COMPANY
- **Address:** 5503 S Boyle Ave, LOS ANGELES, CA, 90058
- **NAICS:** 448120
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $433K
- **Initial approval:** $433K
- **Forgiven:** $437K (101%)
- **Forgiveness date:** 03/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $400K
- **Utilities:** $33K
- **Jobs reported:** 29
## Lender
- **Originating:** Stearns Bank National Association
- **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*