# PPP loan: LECTROSONICS INC.
> **$2.00M** approved 02/19/2021 · Paid in Full · Loan `1886098510`
## Borrower
- **Name:** LECTROSONICS INC.
- **Address:** 581 Laser Rd NE, Rio Rancho, NM, 87124-4508
- **NAICS:** 334310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.00M
- **Initial approval:** $2.00M
- **Forgiven:** $2.01M (101%)
- **Forgiveness date:** 11/01/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $2.00M
- **Jobs reported:** 132
## Lender
- **Originating:** New Mexico Bank and Trust, A Division of HTLF Bank
- **Servicing:** HTLF Bank (CO)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*