# PPP loan: LYWOOD ELECTRIC INC.
> **$1.09M** approved 04/05/2020 · Paid in Full · Loan `5418217009`
## Borrower
- **Name:** LYWOOD ELECTRIC INC.
- **Address:** 301 Bloomingdale Ave, FEDERALSBURG, MD, 21632-1014
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.09M
- **Initial approval:** $1.09M
- **Forgiven:** $1.10M (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.09M
- **Jobs reported:** 70
## Lender
- **Originating:** Burke and Herbert Bank and Trust Company
- **Servicing:** Burke & Herbert Bank & Trust Company (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*