# PPP loan: THE PHILLIPS ELECTRIC CO.
> **$221K** approved 03/20/2021 · Paid in Full · Loan `5268248606`
## Borrower
- **Name:** THE PHILLIPS ELECTRIC CO.
- **Address:** 4126 Saint Clair Ave, Cleveland, OH, 44103-1120
- **NAICS:** 423610
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $221K
- **Initial approval:** $221K
- **Forgiven:** $223K (101%)
- **Forgiveness date:** 06/03/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $221K
- **Jobs reported:** 13
## Lender
- **Originating:** The Middlefield Banking Company
- **Servicing:** The Middlefield Banking Company (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*