# PPP loan: ON TIME ELECTRIC INC
> **$306K** approved 05/08/2020 · Charged Off · Loan `3905047407`
## Borrower
- **Name:** ON TIME ELECTRIC INC
- **Address:** 4630 CENTRAL CHURCH ROAD, DOUGLASVILLE, GA, 30135
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $306K
- **Initial approval:** $306K
- **Forgiven:** $67K (22%)
- **Forgiveness date:** 02/02/2022
- **Status:** Charged Off
- **Term:** 2 months
## Use of funds
- **Payroll:** $306K
- **Jobs reported:** 11
## Lender
- **Originating:** Wells Fargo Bank, National Association
- **Servicing:** Wells Fargo Bank, National Association (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*