PPP Loan information for Motor city electric co.

$9,560,700

Motor city electric co. was initially approved for PPP Loan of amount $9,560,700, the current approved amount is $9,560,700. The loan was approved on 04/28/2020 by The Comerica Bank reported 392 jobs and $9,560,700 was used to fund payroll.

Motor city electric co. is Existing or more than 2 years old

PPP Loan Search / MI / DETROIT / Motor city electric co.

MOTOR CITY ELECTRIC CO.

Date Approved

04/28/2020

SBA Office Code

0515

Processing Method

PPP

Borrower Name

MOTOR CITY ELECTRIC CO.

Borrower Address

9440 GRINNELL ST

Borrower City

DETROIT

Borrower State

MI

Borrower Zip

48213-1151

Loan Status Date

02/05/2022

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

9560700.00

Current Approval Amount

9560700.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

33850

Servicing Lender Name

Comerica Bank

Servicing Lender Address

1717 Main St

Servicing Lender City

DALLAS

Servicing Lender State

TX

Servicing Lender Zip

75201-4612

Rural Urban Indicator

U

Hubzone Indicator

Y

HLMI Indicator

Y

Business Age Description

Existing or more than 2 years old

Project City

DETROIT

Project County Name

WAYNE

Project State

MI

Project Zip

48213-1151

CD

MI-13

Jobs Reported

392

NAICS Code

238210

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

7648600.00

Mortgage Interest Proceed

1912100.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Subchapter S Corporation

Originating Lender Location Id

33850

Originating Lender

Comerica Bank

Originating Lender City

DALLAS

Originating Lender State

TX

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

9728012.25

Forgiveness Date

01/21/2022

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