# PPP loan: PREMIUM ELECTRIC COMPANY INC
> **$180K** approved 04/28/2020 · Paid in Full · Loan `7493287203`
## Borrower
- **Name:** PREMIUM ELECTRIC COMPANY INC
- **Address:** 2550 Hilton Road, Ferndale, MI, 48220-1544
- **NAICS:** 221122
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $180K
- **Initial approval:** $180K
- **Forgiven:** $182K (101%)
- **Forgiveness date:** 02/02/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $176K
- **Jobs reported:** 15
## Lender
- **Originating:** The State Bank
- **Servicing:** The State Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*