# PPP loan: PROGRESSIVE ELECTRIC CORPORATION
> **$343K** approved 04/27/2020 · Paid in Full · Loan `6105747204`
## Borrower
- **Name:** PROGRESSIVE ELECTRIC CORPORATION
- **Address:** 20561 Middlebelt Road, Livonia, MI, 48152-2005
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $343K
- **Initial approval:** $343K
- **Forgiven:** $345K (101%)
- **Forgiveness date:** 01/07/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $274K
- **Mortgage interest:** $68K
- **Jobs reported:** 34
## Lender
- **Originating:** Comerica Bank
- **Servicing:** Comerica Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*