# PPP loan: S & P ELECTRIC CO., LLC
> **$532K** approved 05/05/2020 · Charged Off · Loan `1915347408`
## Borrower
- **Name:** S & P ELECTRIC CO., LLC
- **Address:** 221 51Street, BROOKLYN, NY, 11220
- **NAICS:** 238210
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $532K
- **Initial approval:** $532K
- **Forgiven:** $468K (88%)
- **Forgiveness date:** 02/25/2022
- **Status:** Charged Off
- **Term:** 6 months
## Use of funds
- **Payroll:** $465K
- **Rent:** $35K
- **Health care:** $33K
- **Jobs reported:** 16
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*