# PPP loan: HUPP ELECTRIC MOTORS, INC.
> **$3.25M** approved 04/07/2020 · Paid in Full · Loan `6994797000`
## Borrower
- **Name:** HUPP ELECTRIC MOTORS, INC.
- **Address:** 500 57TH ST, MARION, IA, 52302-3801
- **NAICS:** 811310
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.25M
- **Initial approval:** $3.25M
- **Forgiven:** $3.29M (101%)
- **Forgiveness date:** 06/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.25M
- **Jobs reported:** 235
## Lender
- **Originating:** Cedar Rapids Bank and Trust Company
- **Servicing:** Cedar Rapids Bank and Trust Company (IA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*