# PPP loan: VARCO ELECTRIC LLC
> **$557K** approved 01/30/2021 · Paid in Full · Loan `9541368302`
## Borrower
- **Name:** VARCO ELECTRIC LLC
- **Address:** 5319 Sierra Vista Dr, Carlsbad, NM, 88220-9427
- **NAICS:** 221118
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $557K
- **Initial approval:** $557K
- **Forgiven:** $564K (101%)
- **Forgiveness date:** 05/17/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $557K
- **Utilities:** $1
- **Jobs reported:** 29
## Lender
- **Originating:** Western Commerce Bank
- **Servicing:** Western Commerce Bank (NM)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*