# PPP loan: AMERICAN ELECTRIC INC.
> **$4.78M** approved 04/15/2020 · Paid in Full · Loan `8968047102`
## Borrower
- **Name:** AMERICAN ELECTRIC INC.
- **Address:** 1999 BUTLER LOOP RD, RICHLAND, WA, 99354
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $4.78M
- **Initial approval:** $4.78M
- **Forgiven:** $3.01M (63%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $4.78M
- **Jobs reported:** 205
## Lender
- **Originating:** BMO Bank National Association
- **Servicing:** BMO Bank National Association (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*