# PPP loan: RYDER ELECTRIC INC.
> **$346K** approved 01/28/2021 · Paid in Full · Loan `7655038307`
## Borrower
- **Name:** RYDER ELECTRIC INC.
- **Address:** 12 Mary Ann Dr, Nantucket, MA, 02554-2843
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $346K
- **Initial approval:** $346K
- **Forgiven:** $348K (100%)
- **Forgiveness date:** 07/08/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $346K
- **Utilities:** $1
- **Jobs reported:** 20
## Lender
- **Originating:** The Cape Cod Five Cents Savings Bank
- **Servicing:** The Cape Cod Five Cents Savings Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*