# PPP loan: TAYLOR ELECTRIC INC
> **$4.00M** approved 04/07/2020 · Paid in Full · Loan `6682267006`
## Borrower
- **Name:** TAYLOR ELECTRIC INC
- **Address:** 2650 S 1030 W, SOUTH SALT LAKE, UT, 84119-2443
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $4.00M
- **Initial approval:** $4.00M
- **Forgiven:** $4.04M (101%)
- **Forgiveness date:** 04/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.20M
- **Rent:** $200K
- **Mortgage interest:** $401K
- **Utilities:** $200K
- **Jobs reported:** 308
## Lender
- **Originating:** Bank of Utah
- **Servicing:** Bank of Utah (UT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*