# PPP loan: DESIGN ELECTRIC INC
> **$2.48M** approved 04/07/2020 · Paid in Full · Loan `7238967002`
## Borrower
- **Name:** DESIGN ELECTRIC INC
- **Address:** 1307 Carlton Avenue, CHARLOTTESVILLE, VA, 22902-5887
- **NAICS:** 238210
- **Business type:** Employee Stock Ownership Plan(ESOP)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.48M
- **Initial approval:** $2.48M
- **Forgiven:** $2.52M (102%)
- **Forgiveness date:** 12/23/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.48M
- **Jobs reported:** 228
## Lender
- **Originating:** Virginia National Bank
- **Servicing:** Virginia National Bank (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*