# PPP loan: AMERICAN ELECTRICAL CONTRACTORS, INC
> **$3.23M** approved 04/07/2020 · Paid in Full · Loan `7543247005`
## Borrower
- **Name:** AMERICAN ELECTRICAL CONTRACTORS, INC
- **Address:** 3405 Pearson Road, MEMPHIS, TN, 38118-1628
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $3.23M
- **Initial approval:** $3.23M
- **Forgiven:** $3.27M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $3.20M
- **Rent:** $30K
- **Utilities:** $8K
- **Jobs reported:** 165
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*