# PPP loan: MERIT ELECTRIC COMPANY
> **$280K** approved 04/04/2020 · Paid in Full · Loan `4949447002`
## Borrower
- **Name:** MERIT ELECTRIC COMPANY
- **Address:** 751 PAYNE AVE, SAINT PAUL, MN, 55130-4152
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $280K
- **Initial approval:** $280K
- **Forgiven:** $281K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $224K
- **Rent:** $56K
- **Jobs reported:** 17
## Lender
- **Originating:** First National Bank
- **Servicing:** First National Bank (SD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*