# PPP loan: SLOAN ELECTRIC CO
> **$395K** approved 04/09/2020 · Paid in Full · Loan `8875877007`
## Borrower
- **Name:** SLOAN ELECTRIC CO
- **Address:** 3520 MAIN STREET, SAN DIEGO, CA, 92113-3804
- **NAICS:** 811310
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $395K
- **Initial approval:** $395K
- **Forgiven:** $398K (101%)
- **Forgiveness date:** 03/05/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $316K
- **Rent:** $65K
- **Utilities:** $8K
- **Debt interest:** $6K
- **Jobs reported:** 23
## Lender
- **Originating:** Pacific Premier Bank
- **Servicing:** Loan Source Incorporated (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*