# PPP loan: ADAMS RURAL ELECTRIC COOPERATIVE, INC.
> **$475K** approved 04/14/2020 · Paid in Full · Loan `6261537104`
## Borrower
- **Name:** ADAMS RURAL ELECTRIC COOPERATIVE, INC.
- **Address:** 4800 STATE ROUTE 125, WEST UNION, OH, 45693-9329
- **NAICS:** 221118
- **Business type:** Cooperative
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $475K
- **Initial approval:** $475K
- **Forgiven:** $480K (101%)
- **Forgiveness date:** 06/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $380K
- **Utilities:** $95K
- **Jobs reported:** 24
## Lender
- **Originating:** First State Bank
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*