# PPP loan: AXIS ELECTRIC INC
> **$421K** approved 04/08/2020 · Paid in Full · Loan `8601547005`
## Borrower
- **Name:** AXIS ELECTRIC INC
- **Address:** 1980 FESCUE ST SE #A, ALBANY, OR, 97322-7093
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $421K
- **Initial approval:** $421K
- **Forgiven:** $423K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $316K
- **Mortgage interest:** $105K
- **Jobs reported:** 30
## Lender
- **Originating:** Peoples Bank of Commerce
- **Servicing:** Peoples Bank of Commerce (OR)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*