# PPP loan: SIMCO ELECTRIC, LLC
> **$162K** approved 04/28/2020 · Paid in Full · Loan `8218207201`
## Borrower
- **Name:** SIMCO ELECTRIC, LLC
- **Address:** 3947 E Calvary Rd, DULUTH, MN, 55803
- **NAICS:** 238210
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Unanswered
## Loan
- **Approval amount:** $162K
- **Initial approval:** $213K
- **Forgiven:** $164K (101%)
- **Forgiveness date:** 01/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $154K
- **Mortgage interest:** $5K
- **Utilities:** $3K
- **Jobs reported:** 13
## Lender
- **Originating:** Frandsen Bank & Trust
- **Servicing:** Frandsen Bank & Trust (MN)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*