# PPP loan: REED ELECTRIC FIELD SERVICE
> **$260K** approved 04/15/2020 · Paid in Full · Loan `1899757205`
## Borrower
- **Name:** REED ELECTRIC FIELD SERVICE
- **Address:** 5375 LOUIE LANE, RENO, NV, 89511
- **NAICS:** 423610
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $260K
- **Initial approval:** $260K
- **Forgiven:** $262K (101%)
- **Forgiveness date:** 03/05/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $225K
- **Utilities:** $35K
- **Jobs reported:** 19
## 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*