# PPP loan: INDUSTRIAL ELECTRIC INC.
> **$429K** approved 04/07/2020 · Paid in Full · Loan `7265537008`
## Borrower
- **Name:** INDUSTRIAL ELECTRIC INC.
- **Address:** 388 GTA Drive, DICKINSON, ND, 58601-7206
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $429K
- **Initial approval:** $429K
- **Forgiven:** $432K (101%)
- **Forgiveness date:** 11/23/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $385K
- **Rent:** $44K
- **Jobs reported:** 23
## Lender
- **Originating:** Bravera Bank
- **Servicing:** Bravera Bank (ND)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*