# PPP loan: BATES ELECTRIC INC
> **$1.62M** approved 04/08/2020 · Paid in Full · Loan `7686777008`
## Borrower
- **Name:** BATES ELECTRIC INC
- **Address:** 2006 SIERRA PARKWAY, ARNOLD, MO, 63010-5108
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.62M
- **Initial approval:** $1.62M
- **Forgiven:** $1.64M (101%)
- **Forgiveness date:** 02/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.22M
- **Rent:** $406K
- **Jobs reported:** 136
## Lender
- **Originating:** Carrollton Bank
- **Servicing:** Carrollton Bank (IL)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*