# PPP loan: GERARD ELECTRIC INC.
> **$685K** approved 02/09/2021 · Paid in Full · Loan `5828958410`
## Borrower
- **Name:** GERARD ELECTRIC INC.
- **Address:** 1807 Stevens Dr, Iowa City, IA, 52240-4361
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $685K
- **Initial approval:** $685K
- **Forgiven:** $690K (101%)
- **Forgiveness date:** 10/29/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $685K
- **Utilities:** $1
- **Jobs reported:** 30
## Lender
- **Originating:** MidWestOne Bank
- **Servicing:** MidWestOne Bank (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*