# PPP loan: SONCO ELECTRICO CO; INC.
> **$229K** approved 05/11/2020 · Paid in Full · Loan `4987137407`
## Borrower
- **Name:** SONCO ELECTRICO CO; INC.
- **Address:** 7435 PO BOX, ODESSA, TX, 79760-7435
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $229K
- **Initial approval:** $229K
- **Forgiven:** $231K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $183K
- **Rent:** $23K
- **Utilities:** $23K
- **Jobs reported:** 27
## Lender
- **Originating:** City Bank
- **Servicing:** City Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*