# PPP loan: ALL ELECTRIC MOTORS INC
> **$230K** approved 05/01/2020 · Exemption 4 · Loan `6265627703`
## Borrower
- **Name:** ALL ELECTRIC MOTORS INC
- **Address:** 1452 CANAL ST, AUBURN, CA, 95603-2835
- **NAICS:** 811219
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $230K
- **Initial approval:** $242K
- **Forgiven:** $73K (32%)
- **Forgiveness date:** 08/22/2022
- **Status:** Exemption 4
- **Term:** 60 months
## Use of funds
- **Payroll:** $230K
- **Jobs reported:** 8
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*