# PPP loan: ELECTRICAL POWER SOLUTIONS, INC
> **$234K** approved 04/07/2020 · Paid in Full · Loan `6481257007`
## Borrower
- **Name:** ELECTRICAL POWER SOLUTIONS, INC
- **Address:** 15229 Edgewood Dr Suite 105, BRAINERD, MN, 56401-6831
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $234K
- **Initial approval:** $234K
- **Forgiven:** $236K (101%)
- **Forgiveness date:** 04/12/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $230K
- **Rent:** $4K
- **Utilities:** $174
- **Jobs reported:** 17
## Lender
- **Originating:** Scale Bank
- **Servicing:** Scale Bank (MN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*