# PPP loan: PREFERRED ELECTRIC CO., INC.
> **$3.29M** approved 04/14/2020 · Paid in Full · Loan `6537117109`
## Borrower
- **Name:** PREFERRED ELECTRIC CO., INC.
- **Address:** 4113 YANCEY RD, CHARLOTTE, NC, 28217-1737
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.29M
- **Initial approval:** $290K
- **Forgiven:** $3.33M (101%)
- **Forgiveness date:** 08/05/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.29M
- **Jobs reported:** 217
## Lender
- **Originating:** Truist Bank
- **Servicing:** Truist Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*