# PPP loan: MECO ELECTRIC
> **$189K** approved 04/10/2020 · Paid in Full · Loan `2192247108`
## Borrower
- **Name:** MECO ELECTRIC
- **Address:** 3715 BELMONT AVE, CHICAGO, IL, 60618-5225
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $189K
- **Initial approval:** $189K
- **Forgiven:** $190K (101%)
- **Forgiveness date:** 01/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $142K
- **Mortgage interest:** $24K
- **Utilities:** $24K
- **Jobs reported:** 10
## Lender
- **Originating:** Schaumburg Bank & Trust Company, National Association
- **Servicing:** Schaumburg Bank & Trust Company, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*