# PPP loan: ASHCOTT ELECTRICAL INC.
> **$344K** approved 04/09/2020 · Paid in Full · Loan `9030847001`
## Borrower
- **Name:** ASHCOTT ELECTRICAL INC.
- **Address:** 11800 WHITMORE LAKE RD, WHITMORE LAKE, MI, 48189-9380
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $344K
- **Initial approval:** $344K
- **Forgiven:** $346K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $258K
- **Utilities:** $86K
- **Jobs reported:** 16
## Lender
- **Originating:** Chelsea State Bank
- **Servicing:** Chelsea State Bank (MI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*