# PPP loan: CONVERSE ELECTRIC
> **$1.02M** approved 04/06/2020 · Paid in Full · Loan `5613207001`
## Borrower
- **Name:** CONVERSE ELECTRIC
- **Address:** 3783 Gantz Rd, GROVE CITY, OH, 43123-1891
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.02M
- **Initial approval:** $1.09M
- **Forgiven:** $1.03M (101%)
- **Forgiveness date:** 08/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $970K
- **Health care:** $51K
- **Jobs reported:** 75
## Lender
- **Originating:** Heartland Bank
- **Servicing:** Heartland Bank (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*