# PPP loan: SCHMIDT ELECTRIC COMPANY, INC.
> **$3.60M** approved 04/04/2020 · Paid in Full · Loan `4686047008`
## Borrower
- **Name:** SCHMIDT ELECTRIC COMPANY, INC.
- **Address:** 9701 FM 1625, AUSTIN, TX, 78747-1590
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.60M
- **Initial approval:** $3.60M
- **Forgiven:** $3.62M (101%)
- **Forgiveness date:** 02/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.60M
- **Jobs reported:** 279
## Lender
- **Originating:** Security State Bank & Trust
- **Servicing:** Security State Bank & Trust (TX)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*