# PPP loan: TAFT ELECTRIC COMPANY
> **$8.76M** approved 04/11/2020 · Paid in Full · Loan `3541837101`
## Borrower
- **Name:** TAFT ELECTRIC COMPANY
- **Address:** 1694 EASTMAN AVE, VENTURA, CA, 93003-5705
- **NAICS:** 238210
- **Business type:** Employee Stock Ownership Plan(ESOP)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $8.76M
- **Initial approval:** $8.76M
- **Forgiven:** $8.86M (101%)
- **Forgiveness date:** 06/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $8.76M
- **Jobs reported:** 470
## Lender
- **Originating:** Montecito Bank & Trust
- **Servicing:** Montecito Bank & Trust (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*