# PPP loan: HY-POWER ELECTRIC COMPANY
> **$575K** approved 04/15/2020 · Paid in Full · Loan `9280477109`
## Borrower
- **Name:** HY-POWER ELECTRIC COMPANY
- **Address:** 14531 EDISON DRIVE, NEW LENOX, IL, 60451
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $575K
- **Initial approval:** $575K
- **Forgiven:** $581K (101%)
- **Forgiveness date:** 05/24/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $345K
- **Rent:** $13K
- **Utilities:** $750
- **Health care:** $217K
- **Jobs reported:** 19
## Lender
- **Originating:** LincolnWay Community Bank
- **Servicing:** LincolnWay Community Bank (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*