# PPP loan: WAYNE ELECTRIC INC.
> **$1.50M** approved 02/22/2021 · Paid in Full · Loan `3080838507`
## Borrower
- **Name:** WAYNE ELECTRIC INC.
- **Address:** 11910 Trickey Rd, Houston, TX, 77067-2304
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.50M
- **Initial approval:** $1.50M
- **Forgiven:** $1.52M (101%)
- **Forgiveness date:** 02/14/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.50M
- **Utilities:** $1
- **Jobs reported:** 87
## Lender
- **Originating:** First Source Federal Credit Union
- **Servicing:** PNC Bank, National Association (DE)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*