# PPP loan: M-W ELECTRIC INC.
> **$351K** approved 05/28/2021 · Paid in Full · Loan `8781449009`
## Borrower
- **Name:** M-W ELECTRIC INC.
- **Address:** 312 W 4th Ave, Red Springs, NC, 28377-1535
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $351K
- **Initial approval:** $351K
- **Forgiven:** $353K (101%)
- **Forgiveness date:** 12/06/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $351K
- **Utilities:** $1
- **Jobs reported:** 40
## Lender
- **Originating:** Lumbee Guaranty Bank
- **Servicing:** Lumbee Guaranty Bank (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*