# PPP loan: THE CROWN ELECTRIC CO.
> **$672K** approved 04/16/2020 · Paid in Full · Loan `2772337205`
## Borrower
- **Name:** THE CROWN ELECTRIC CO.
- **Address:** 2027 Greenspring Drive, Timonium, MD, 21093
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $672K
- **Initial approval:** $672K
- **Forgiven:** $677K (101%)
- **Forgiveness date:** 01/28/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $597K
- **Rent:** $10K
- **Utilities:** $5K
- **Health care:** $60K
- **Jobs reported:** 54
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*