# PPP loan: INDEPENDENT ELECTRIC SUPPLY CORP.
> **$1.49M** approved 04/06/2020 · Paid in Full · Loan `5867397001`
## Borrower
- **Name:** INDEPENDENT ELECTRIC SUPPLY CORP.
- **Address:** 41 INNERBELT RD, SOMERVILLE, MA, 02143-4406
- **NAICS:** 423610
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.49M
- **Initial approval:** $1.49M
- **Forgiven:** $1.51M (101%)
- **Forgiveness date:** 08/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.49M
- **Jobs reported:** 85
## Lender
- **Originating:** City National Bank
- **Servicing:** City National Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*