# PPP loan: PEAVEY ELECTRONICS CORPORATION
> **$1.44M** approved 04/05/2020 · Exemption 4 · Loan `5524387007`
## Borrower
- **Name:** PEAVEY ELECTRONICS CORPORATION
- **Address:** 5022 HARTLEY PEAVEY DR, MERIDIAN, MS, 39305-8733
- **NAICS:** 423690
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.44M
- **Initial approval:** $1.44M
- **Forgiven:** $1.25M (86%)
- **Forgiveness date:** 01/21/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $1.30M
- **Rent:** $100K
- **Utilities:** $44K
- **Jobs reported:** 81
## Lender
- **Originating:** First Source Federal Credit Union
- **Servicing:** PNC Bank, National Association (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*