# PPP loan: BROADWAY ELECTRIC, INC.
> **$1.45M** approved 04/05/2020 · Paid in Full · Loan `5576947000`
## Borrower
- **Name:** BROADWAY ELECTRIC, INC.
- **Address:** 831 Oakton Street, ELK GROVE VILLAGE, IL, 60007-1918
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.45M
- **Initial approval:** $1.45M
- **Forgiven:** $1.46M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.08M
- **Rent:** $181K
- **Utilities:** $181K
- **Jobs reported:** 52
## Lender
- **Originating:** Village Bank and Trust, National Association
- **Servicing:** Village Bank and Trust, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*