# PPP loan: STATE ELECTRIC COMPANY, INC.
> **$385K** approved 04/06/2020 · Paid in Full · Loan `5775967009`
## Borrower
- **Name:** STATE ELECTRIC COMPANY, INC.
- **Address:** 7194 BIG SKY DR, HOLLY, MI, 48442-9775
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $385K
- **Initial approval:** $385K
- **Forgiven:** $389K (101%)
- **Forgiveness date:** 06/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $357K
- **Mortgage interest:** $9K
- **Utilities:** $2K
- **Health care:** $17K
- **Jobs reported:** 40
## Lender
- **Originating:** Oxford Bank
- **Servicing:** Oxford Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*