# PPP loan: ALBION ELECTRIC, INC.
> **$245K** approved 04/11/2020 · Paid in Full · Loan `3477967110`
## Borrower
- **Name:** ALBION ELECTRIC, INC.
- **Address:** 16913 E Michigan Ave, MARSHALL, MI, 49068
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $245K
- **Initial approval:** $260K
- **Forgiven:** $246K (101%)
- **Forgiveness date:** 01/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $245K
- **Jobs reported:** 14
## Lender
- **Originating:** Homestead Savings Bank
- **Servicing:** Homestead Savings Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*