# PPP loan: DEMAND ELECTRIC INC.
> **$1.40M** approved 01/25/2021 · Charged Off · Loan `5141468300`
## Borrower
- **Name:** DEMAND ELECTRIC INC.
- **Address:** 3133 31st St # 2, Astoria, NY, 11106-2530
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.40M
- **Initial approval:** $1.40M
- **Status:** Charged Off
- **Term:** 41 months
## Use of funds
- **Payroll:** $1.40M
- **Utilities:** $1
- **Jobs reported:** 80
## Lender
- **Originating:** Spencer Savings Bank, SLA
- **Servicing:** Spencer Savings Bank, SLA (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*