# PPP loan: MAGIC VALLEY ELECTRIC COOPERATIVE INC
> **$3.49M** approved 04/30/2020 · Paid in Full · Loan `6798567309`
## Borrower
- **Name:** MAGIC VALLEY ELECTRIC COOPERATIVE INC
- **Address:** PO Box 267, MERCEDES, TX, 78570
- **NAICS:** 221122
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.49M
- **Initial approval:** $3.49M
- **Forgiven:** $3.53M (101%)
- **Forgiveness date:** 06/14/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.49M
- **Jobs reported:** 270
## Lender
- **Originating:** PlainsCapital Bank
- **Servicing:** PlainsCapital Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*