# PPP loan: PHOENIX ELECTRIC CORP.
> **$789K** approved 04/04/2020 · Paid in Full · Loan `4691057005`
## Borrower
- **Name:** PHOENIX ELECTRIC CORP.
- **Address:** 40 HUDSON RD, CANTON, MA, 02021-1407
- **NAICS:** 335311
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $789K
- **Initial approval:** $789K
- **Forgiven:** $795K (101%)
- **Forgiveness date:** 02/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $592K
- **Rent:** $99K
- **Utilities:** $99K
- **Jobs reported:** 63
## Lender
- **Originating:** The Bank of Canton
- **Servicing:** The Bank of Canton (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*