# PPP loan: LAKE ELECTRIC CO INC
> **$1.11M** approved 04/06/2020 · Paid in Full · Loan `5767857000`
## Borrower
- **Name:** LAKE ELECTRIC CO INC
- **Address:** 4362 PROVIDENCE MILL RD, MAIDEN, NC, 28650-8594
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.11M
- **Initial approval:** $1.11M
- **Forgiven:** $1.12M (101%)
- **Forgiveness date:** 12/31/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.11M
- **Jobs reported:** 103
## Lender
- **Originating:** Peoples Bank
- **Servicing:** Peoples Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*