# PPP loan: NORTHWEST ELECTRIC, INC.
> **$629K** approved 04/14/2020 · Paid in Full · Loan `7616737110`
## Borrower
- **Name:** NORTHWEST ELECTRIC, INC.
- **Address:** 12442 Owings Mills Boulevard, Reisterstown, MD, 21136
- **NAICS:** 236220
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $629K
- **Initial approval:** $629K
- **Forgiven:** $633K (101%)
- **Forgiveness date:** 12/02/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $540K
- **Rent:** $16K
- **Utilities:** $4K
- **Health care:** $64K
- **Debt interest:** $6K
- **Jobs reported:** 85
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*