# PPP loan: REED MECHANICAL EQUIPMENT INC.
> **$361K** approved 01/26/2021 · Paid in Full · Loan `5959998302`
## Borrower
- **Name:** REED MECHANICAL EQUIPMENT INC.
- **Address:** 8808 Gray Hawk Rd, Shreveport, LA, 71118-2244
- **NAICS:** 423730
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $361K
- **Initial approval:** $361K
- **Forgiven:** $363K (100%)
- **Forgiveness date:** 07/20/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $361K
- **Jobs reported:** 20
## Lender
- **Originating:** Progressive Bank
- **Servicing:** Progressive Bank (LA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*