# PPP loan: L&M ELECTRIC, INC
> **$237K** approved 04/08/2020 · Paid in Full · Loan `8700687007`
## Borrower
- **Name:** L&M ELECTRIC, INC
- **Address:** 2702 ELKHART RD, GOSHEN, IN, 46526-1013
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $237K
- **Initial approval:** $237K
- **Forgiven:** $239K (101%)
- **Forgiveness date:** 12/15/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $178K
- **Health care:** $59K
- **Jobs reported:** 16
## Lender
- **Originating:** First State Bank of Middlebury
- **Servicing:** First State Bank of Middlebury (IN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*