# PPP loan: ERICO ELECTRIC, INC.
> **$293K** approved 04/07/2020 · Paid in Full · Loan `7467007000`
## Borrower
- **Name:** ERICO ELECTRIC, INC.
- **Address:** 19273 Kiiskila Road, HANCOCK, MI, 49930-9668
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $293K
- **Initial approval:** $293K
- **Forgiven:** $294K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $282K
- **Rent:** $8K
- **Utilities:** $2K
- **Jobs reported:** 26
## Lender
- **Originating:** Superior National Bank
- **Servicing:** Superior National Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*