# PPP loan: LECTROSONICS, INC.
> **$2.23M** approved 04/15/2020 · Paid in Full · Loan `9532027100`
## Borrower
- **Name:** LECTROSONICS, INC.
- **Address:** 581 LASER RD NE, RIO RANCHO, NM, 87144
- **NAICS:** 334310
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.23M
- **Initial approval:** $2.23M
- **Forgiven:** $2.26M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.23M
- **Jobs reported:** 148
## Lender
- **Originating:** New Mexico Bank and Trust, A Division of HTLF Bank
- **Servicing:** HTLF Bank (CO)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*