# PPP loan: MIDWEST ELECTRIC INC
> **$704K** approved 04/07/2020 · Paid in Full · Loan `6578177003`
## Borrower
- **Name:** MIDWEST ELECTRIC INC
- **Address:** 06029 COUNTY ROAD 33A, SAINT MARYS, OH, 45885-9762
- **NAICS:** 221122
- **Business type:** Cooperative
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $704K
- **Initial approval:** $572K
- **Forgiven:** $710K (101%)
- **Forgiveness date:** 03/12/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $454K
- **Utilities:** $9K
- **Health care:** $107K
- **Debt interest:** $134K
- **Jobs reported:** 28
## Lender
- **Originating:** First Bank Richmond
- **Servicing:** First Bank Richmond (IN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*