# PPP loan: POWER EQUIPMENT COMPANY OF MEMPHIS
> **$767K** approved 04/09/2020 · Paid in Full · Loan `9106057008`
## Borrower
- **Name:** POWER EQUIPMENT COMPANY OF MEMPHIS
- **Address:** 3050 BROAD AVENUE, MEMPHIS, TN, 38112-3001
- **NAICS:** 423830
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $767K
- **Initial approval:** $767K
- **Forgiven:** $775K (101%)
- **Forgiveness date:** 05/18/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $740K
- **Rent:** $9K
- **Mortgage interest:** $3K
- **Utilities:** $15K
- **Jobs reported:** 54
## Lender
- **Originating:** First Horizon Bank
- **Servicing:** First Horizon Bank (TN)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*