# PPP loan: FRANKLIN  ELECTRIC COOPERATIVE
> **$595K** approved 05/15/2020 · Paid in Full · Loan `6817827409`
## Borrower
- **Name:** FRANKLIN  ELECTRIC COOPERATIVE
- **Address:** 531 GANDY ST, RUSSELLVILLE, AL, 35653-1965
- **NAICS:** 238210
- **Business type:** Cooperative
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $595K
- **Initial approval:** $595K
- **Forgiven:** $601K (101%)
- **Forgiveness date:** 05/21/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $447K
- **Mortgage interest:** $89K
- **Utilities:** $60K
- **Jobs reported:** 24
## Lender
- **Originating:** First Metro Bank
- **Servicing:** First Metro Bank (AL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*