# PPP loan: RICHARDS ELECTRIC MOTOR CO.
> **$504K** approved 04/06/2020 · Paid in Full · Loan `5742317006`
## Borrower
- **Name:** RICHARDS ELECTRIC MOTOR CO.
- **Address:** 2028 Quintron Way, QUINCY, IL, 62305-1207
- **NAICS:** 335312
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $504K
- **Initial approval:** $504K
- **Forgiven:** $508K (101%)
- **Forgiveness date:** 01/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $504K
- **Jobs reported:** 43
## Lender
- **Originating:** First Bankers Trust Company, National Association
- **Servicing:** First Bankers Trust Company, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*