# PPP loan: RICHARDS ELECTRIC MOTOR CO.
> **$520K** approved 01/23/2021 · Paid in Full · Loan `4545248306`
## Borrower
- **Name:** RICHARDS ELECTRIC MOTOR CO.
- **Address:** 2028 Quintron Way, Quincy, IL, 62305-1207
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $520K
- **Initial approval:** $520K
- **Forgiven:** $522K (100%)
- **Forgiveness date:** 06/23/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $520K
- **Utilities:** $1
- **Jobs reported:** 38
## Lender
- **Originating:** First Bankers Trust Company, National Association
- **Servicing:** First Bankers Trust Company, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*