# PPP loan: BEACON ELECTRIC INC.
> **$404K** approved 03/15/2021 · Paid in Full · Loan `2582808602`
## Borrower
- **Name:** BEACON ELECTRIC INC.
- **Address:** 298 CLARK STREET, MILLDALE, CT, 06467
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $404K
- **Initial approval:** $404K
- **Forgiven:** $407K (101%)
- **Forgiveness date:** 11/03/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $404K
- **Utilities:** $1
- **Jobs reported:** 16
## Lender
- **Originating:** Webster Bank National Association
- **Servicing:** Webster Bank National Association (CT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*