# PPP loan: FLANDERS ELECTRIC, INC.
> **$307K** approved 04/07/2020 · Paid in Full · Loan `6541017008`
## Borrower
- **Name:** FLANDERS ELECTRIC, INC.
- **Address:** 50 Beal St, NORWAY, ME, 04268-5731
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $307K
- **Initial approval:** $307K
- **Forgiven:** $311K (101%)
- **Forgiveness date:** 05/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $307K
- **Jobs reported:** 17
## Lender
- **Originating:** Norway Savings Bank
- **Servicing:** Norway Savings Bank (ME)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*