# PPP loan: STATE ELECTRIC CORPORATION
> **$8.11M** approved 04/04/2020 · Paid in Full · Loan `4684277003`
## Borrower
- **Name:** STATE ELECTRIC CORPORATION
- **Address:** 2 DEANGELO DR, BEDFORD, MA, 01730-2204
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $8.11M
- **Initial approval:** $8.11M
- **Forgiven:** $8.20M (101%)
- **Forgiveness date:** 06/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Utilities:** $8.11M
- **Jobs reported:** 397
## Lender
- **Originating:** Salem Five Cents Savings Bank
- **Servicing:** Salem Five Cents Savings Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*