# PPP loan: RCI ELECTRIC, LLC
> **$523K** approved 04/09/2020 · Paid in Full · Loan `9692757008`
## Borrower
- **Name:** RCI ELECTRIC, LLC
- **Address:** 32733 FOLSOM RD, FARMINGTON HILLS, MI, 48336-4425
- **NAICS:** 238210
- **Business type:** Limited  Liability Company(LLC)
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $523K
- **Initial approval:** $523K
- **Forgiven:** $529K (101%)
- **Forgiveness date:** 07/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $487K
- **Rent:** $10K
- **Mortgage interest:** $24K
- **Utilities:** $2K
- **Jobs reported:** 49
## Lender
- **Originating:** Waterford Bank, National Association
- **Servicing:** Waterford Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*