# PPP loan: LEACO RURAL TELEPHONE COOP, INC.
> **$710K** approved 04/28/2020 · Paid in Full · Loan `6944527209`
## Borrower
- **Name:** LEACO RURAL TELEPHONE COOP, INC.
- **Address:** 220 BROADWAY ST, HOBBS, NM, 88240-6004
- **NAICS:** 517311
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $710K
- **Initial approval:** $710K
- **Forgiven:** $714K (101%)
- **Forgiveness date:** 12/02/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $524K
- **Rent:** $116K
- **Utilities:** $15K
- **Debt interest:** $54K
- **Jobs reported:** 40
## Lender
- **Originating:** Lea County State Bank
- **Servicing:** Lea County State Bank (NM)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*