# PPP loan: PREFERRED ELECTRICAL CORPORATION
> **$234K** approved 04/10/2020 · Paid in Full · Loan `2261937108`
## Borrower
- **Name:** PREFERRED ELECTRICAL CORPORATION
- **Address:** 17654 MAIN ST, TEWKSBURY, MA, 01876-2004
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $234K
- **Initial approval:** $234K
- **Forgiven:** $236K (101%)
- **Forgiveness date:** 12/08/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $219K
- **Mortgage interest:** $2K
- **Utilities:** $2K
- **Health care:** $10K
- **Debt interest:** $1K
- **Jobs reported:** 23
## Lender
- **Originating:** The Lowell Five Cent Savings Bank
- **Servicing:** The Lowell Five Cent Savings Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*