# PPP loan: TAYLOR ELECTRIC COMPANY
> **$1.50M** approved 04/06/2020 · Paid in Full · Loan `5858577005`
## Borrower
- **Name:** TAYLOR ELECTRIC COMPANY
- **Address:** 7811 S Stony Island Ave, CHICAGO, IL, 60649-4911
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Unanswered
## Loan
- **Approval amount:** $1.50M
- **Initial approval:** $1.50M
- **Forgiven:** $1.52M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.13M
- **Rent:** $375K
- **Jobs reported:** 60
## Lender
- **Originating:** Busey Bank
- **Servicing:** Busey Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*