# PPP loan: DIRECT ELECTRIC, INC.
> **$162K** approved 04/08/2020 · Paid in Full · Loan `7926997004`
## Borrower
- **Name:** DIRECT ELECTRIC, INC.
- **Address:** 711 MORSE AVE, SCHAUMBURG, IL, 60193-4533
- **NAICS:** 238220
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $162K
- **Initial approval:** $162K
- **Forgiven:** $163K (101%)
- **Forgiveness date:** 01/07/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $122K
- **Rent:** $24K
- **Utilities:** $16K
- **Jobs reported:** 18
## Lender
- **Originating:** Crystal Lake Bank & Trust Company, National Association
- **Servicing:** Crystal Lake Bank & Trust Company, National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*