# PPP loan: BAY ELECTRIC INC
> **$216K** approved 04/11/2020 · Paid in Full · Loan `3485327106`
## Borrower
- **Name:** BAY ELECTRIC INC
- **Address:** 48643 BANFIELD AVENUE P O Box 297, DOLLAR BAY, MI, 49922-9999
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $216K
- **Initial approval:** $216K
- **Forgiven:** $217K (101%)
- **Forgiveness date:** 11/05/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $194K
- **Rent:** $15K
- **Utilities:** $854
- **Health care:** $6K
- **Jobs reported:** 26
## Lender
- **Originating:** Superior National Bank
- **Servicing:** Superior National Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*