# PPP loan: THE NEW ACE ELECTRIC LLC
> **$274K** approved 04/03/2020 · Paid in Full · Loan `4466037003`
## Borrower
- **Name:** THE NEW ACE ELECTRIC LLC
- **Address:** 6909 Seybold Rd #200, MADISON, WI, 53719-1313
- **NAICS:** 238210
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $274K
- **Initial approval:** $274K
- **Forgiven:** $275K (101%)
- **Forgiveness date:** 11/23/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $219K
- **Rent:** $55K
- **Jobs reported:** 20
## Lender
- **Originating:** Lake Ridge Bank
- **Servicing:** Lake Ridge Bank (WI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*