# PPP loan: RICMAR ELECTRIC, INC.
> **$218K** approved 04/14/2020 · Paid in Full · Loan `7929597106`
## Borrower
- **Name:** RICMAR ELECTRIC, INC.
- **Address:** 7293 Schultz Road, North Tonawanda, NY, 14120
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $218K
- **Initial approval:** $218K
- **Forgiven:** $220K (101%)
- **Forgiveness date:** 01/06/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $175K
- **Rent:** $20K
- **Utilities:** $3K
- **Health care:** $17K
- **Debt interest:** $4K
- **Jobs reported:** 17
## Lender
- **Originating:** Manufacturers and Traders Trust Company
- **Servicing:** Manufacturers and Traders Trust Company (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*