# PPP loan: K&N ELECTRIC MOTORS, INC
> **$868K** approved 04/14/2020 · Paid in Full · Loan `7832087110`
## Borrower
- **Name:** K&N ELECTRIC MOTORS, INC
- **Address:** 415 N Fancher Rd, SPOKANE VALLEY, WA, 99212
- **NAICS:** 423610
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $868K
- **Initial approval:** $868K
- **Forgiven:** $876K (101%)
- **Forgiveness date:** 02/19/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $651K
- **Mortgage interest:** $113K
- **Utilities:** $52K
- **Debt interest:** $52K
- **Jobs reported:** 60
## Lender
- **Originating:** Banner Bank
- **Servicing:** Banner Bank (WA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*