# PPP loan: LB ELECTRIC COMPANY LLC
> **$1.52M** approved 01/23/2021 · Paid in Full · Loan `4923438302`
## Borrower
- **Name:** LB ELECTRIC COMPANY LLC
- **Address:** 50 Commerce Rd, Cedar Grove, NJ, 07009-1206
- **NAICS:** 237130
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.52M
- **Initial approval:** $1.52M
- **Forgiven:** $1.55M (101%)
- **Forgiveness date:** 07/21/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.52M
- **Utilities:** $1
- **Jobs reported:** 70
## Lender
- **Originating:** Columbia Bank
- **Servicing:** Columbia Bank (NJ)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*