# PPP loan: LTI ELECTRIC INC
> **$267K** approved 04/16/2020 · Paid in Full · Loan `2412027202`
## Borrower
- **Name:** LTI ELECTRIC INC
- **Address:** 3078 KENNETH ST, SANTA CLARA, CA, 95054
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $267K
- **Initial approval:** $267K
- **Forgiven:** $269K (101%)
- **Forgiveness date:** 01/26/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $243K
- **Rent:** $11K
- **Utilities:** $13K
- **Jobs reported:** 16
## Lender
- **Originating:** United Business Bank
- **Servicing:** United Business Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*