PPP Loan information for State electric corporation

$8,111,700

State electric corporation was initially approved for PPP Loan of amount $8,111,700, the current approved amount is $8,111,700. The loan was approved on 04/04/2020 by The Salem Five Cents Savings Bank reported 397 jobs and $8,111,700 was used to fund payroll.

State electric corporation is Existing or more than 2 years old

PPP Loan Search / MA / BEDFORD / State electric corporation

STATE ELECTRIC CORPORATION

Date Approved

04/04/2020

SBA Office Code

0101

Processing Method

PPP

Borrower Name

STATE ELECTRIC CORPORATION

Borrower Address

2 DEANGELO DR

Borrower City

BEDFORD

Borrower State

MA

Borrower Zip

01730-2204

Loan Status Date

08/06/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

8111700.00

Current Approval Amount

8111700.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

33304

Servicing Lender Name

Salem Five Cents Savings Bank

Servicing Lender Address

210 Essex St

Servicing Lender City

SALEM

Servicing Lender State

MA

Servicing Lender Zip

01970-3705

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

BEDFORD

Project County Name

MIDDLESEX

Project State

MA

Project Zip

01730-2204

CD

MA-06

Jobs Reported

397

NAICS Code

238210

Race

White

Ethnicity

Not Hispanic or Latino

Utilities Proceed

8111700.00

Payroll Proceed

0.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Corporation

Originating Lender Location Id

33304

Originating Lender

Salem Five Cents Savings Bank

Originating Lender City

SALEM

Originating Lender State

MA

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

8204759.23

Forgiveness Date

06/02/2021

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