# PPP loan: INDUSTRIAL ELECTRIC INC.
> **$296K** approved 01/21/2021 · Paid in Full · Loan `3280488307`
## Borrower
- **Name:** INDUSTRIAL ELECTRIC INC.
- **Address:** 1325 N 81 Bypass, McPherson, KS, 67460
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $296K
- **Initial approval:** $296K
- **Forgiven:** $298K (101%)
- **Forgiveness date:** 11/24/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $296K
- **Utilities:** $1
- **Jobs reported:** 20
## Lender
- **Originating:** The Farmers State Bank
- **Servicing:** The Farmers State Bank (KS)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*