# PPP loan: RAYCO ELECTRIC INC.
> **$416K** approved 03/15/2021 · Paid in Full · Loan `2354778604`
## Borrower
- **Name:** RAYCO ELECTRIC INC.
- **Address:** 603 18th Ave W, Bradenton, FL, 34205-8323
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $416K
- **Initial approval:** $416K
- **Forgiven:** $419K (101%)
- **Forgiveness date:** 12/16/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $416K
- **Jobs reported:** 41
## Lender
- **Originating:** Truist Bank
- **Servicing:** Truist Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*