# PPP loan: SEARLE ELECTRIC INC
> **$156K** approved 03/20/2021 · Paid in Full · Loan `6172378610`
## Borrower
- **Name:** SEARLE ELECTRIC INC
- **Address:** 1101 Airport Rd, Monterey, CA, 93940-5481
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $156K
- **Initial approval:** $156K
- **Forgiven:** $158K (101%)
- **Forgiveness date:** 07/18/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $156K
- **Utilities:** $1
- **Jobs reported:** 16
## Lender
- **Originating:** Mechanics Bank
- **Servicing:** Mechanics Bank (CA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*