# PPP loan: #1 QUALITY ELECTRIC INC
> **$200K** approved 05/01/2020 · Paid in Full · Loan `8530387301`
## Borrower
- **Name:** #1 QUALITY ELECTRIC INC
- **Address:** 22784 SAN MIGUEL ST, HARLINGEN, TX, 78552-2580
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $200K
- **Initial approval:** $200K
- **Forgiven:** $201K (101%)
- **Forgiveness date:** 01/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $200K
- **Jobs reported:** 22
## Lender
- **Originating:** Texas Regional Bank
- **Servicing:** Texas Regional Bank (TX)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*