# PPP loan: WALLACE ELECTRONICS
> **$647K** approved 04/04/2020 · Paid in Full · Loan `4852997007`
## Borrower
- **Name:** WALLACE ELECTRONICS
- **Address:** 10551 Miller Road, Suite 300, DALLAS, TX, 75238-1211
- **NAICS:** 334417
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $647K
- **Initial approval:** $647K
- **Forgiven:** $651K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $607K
- **Rent:** $30K
- **Utilities:** $10K
- **Jobs reported:** 65
## Lender
- **Originating:** Texas Security Bank
- **Servicing:** Texas Security Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*