# PPP loan: HI-TECH ELECTRIC INC
> **$5.10M** approved 04/13/2020 · Paid in Full · Loan `4406277101`
## Borrower
- **Name:** HI-TECH ELECTRIC INC
- **Address:** 11116 W Little York Bldg 8, HOUSTON, TX, 77041
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $5.10M
- **Initial approval:** $5.10M
- **Forgiven:** $5.16M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.83M
- **Rent:** $638K
- **Utilities:** $638K
- **Jobs reported:** 337
## Lender
- **Originating:** First Source Federal Credit Union
- **Servicing:** PNC Bank, National Association (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*