# PPP loan: RAINS ELECTRIC COMPANY INC
> **$460K** approved 04/28/2020 · Paid in Full · Loan `7827177206`
## Borrower
- **Name:** RAINS ELECTRIC COMPANY INC
- **Address:** 212 WILLIAMS AVE, MADISON, TN, 37115
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $460K
- **Initial approval:** $460K
- **Forgiven:** $462K (101%)
- **Forgiveness date:** 11/20/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $345K
- **Mortgage interest:** $69K
- **Utilities:** $46K
- **Jobs reported:** 34
## Lender
- **Originating:** Volunteer State Bank
- **Servicing:** Volunteer State Bank (TN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*