# PPP loan: INDUSTRIAL POWER INC
> **$246K** approved 02/24/2021 · Paid in Full · Loan `3934108505`
## Borrower
- **Name:** INDUSTRIAL POWER INC
- **Address:** 703 Whitfield St, Fayetteville, NC, 28306-1617
- **NAICS:** 423840
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $246K
- **Initial approval:** $246K
- **Forgiven:** $248K (101%)
- **Forgiveness date:** 01/18/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $246K
- **Utilities:** $1
- **Jobs reported:** 21
## Lender
- **Originating:** Truist Bank
- **Servicing:** Truist Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*