# PPP loan: ARCHER CONTROLS & ELECTRIC INC.
> **$220K** approved 03/17/2021 · Paid in Full · Loan `3435648607`
## Borrower
- **Name:** ARCHER CONTROLS & ELECTRIC INC.
- **Address:** 702 S Chapel St, Landis, NC, 28088-1828
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $220K
- **Initial approval:** $220K
- **Forgiven:** $221K (101%)
- **Forgiveness date:** 10/29/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $220K
- **Utilities:** $1
- **Jobs reported:** 19
## Lender
- **Originating:** Farmers and Merchants Bank
- **Servicing:** Farmers and Merchants Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*