# PPP loan: REGIONAL ELECTRIC INC.
> **$150K** approved 04/05/2020 · Paid in Full · Loan `5449587007`
## Borrower
- **Name:** REGIONAL ELECTRIC INC.
- **Address:** 1015 North COURT ST, MONTGOMERY, AL, 36104-2009
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $150K
- **Initial approval:** $150K
- **Forgiven:** $152K (101%)
- **Forgiveness date:** 09/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $113K
- **Rent:** $30K
- **Utilities:** $8K
- **Jobs reported:** 15
## Lender
- **Originating:** ServisFirst Bank
- **Servicing:** ServisFirst Bank (AL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*