# PPP loan: NORTHERN ELECTRIC COMPANY INC
> **$365K** approved 04/05/2020 · Paid in Full · Loan `5541367003`
## Borrower
- **Name:** NORTHERN ELECTRIC COMPANY INC
- **Address:** 116 N Hill Street, SOUTH BEND, IN, 46617-2718
- **NAICS:** 811310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $365K
- **Initial approval:** $365K
- **Forgiven:** $367K (101%)
- **Forgiveness date:** 12/15/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $365K
- **Jobs reported:** 26
## Lender
- **Originating:** 1st Source Bank
- **Servicing:** 1st Source Bank (IN)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*