PPP Loan information for Merit electric ltd

$511,900

Merit electric ltd was initially approved for PPP Loan of amount $511,900, the current approved amount is $511,900. The loan was approved on 04/27/2020 by The MidWestOne Bank reported 28 jobs and $511,900 was used to fund payroll.

Merit electric ltd is New Business or 2 years or less

PPP Loan Search / IA / IOWA CITY / Merit electric ltd

MERIT ELECTRIC LTD

Date Approved

04/27/2020

SBA Office Code

0736

Processing Method

PPP

Borrower Name

MERIT ELECTRIC LTD

Borrower Address

PO BOX 1428

Borrower City

IOWA CITY

Borrower State

IA

Borrower Zip

52244-1428

Loan Status Date

04/14/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

511900.00

Current Approval Amount

511900.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

25117

Servicing Lender Name

MidWestOne Bank

Servicing Lender Address

102 S Clinton St

Servicing Lender City

IOWA CITY

Servicing Lender State

IA

Servicing Lender Zip

52240-4065

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

Y

Business Age Description

New Business or 2 years or less

Project City

IOWA CITY

Project County Name

JOHNSON

Project State

IA

Project Zip

52244-1428

CD

IA-01

Jobs Reported

28

NAICS Code

238210

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

511900.00

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

Subchapter S Corporation

Originating Lender Location Id

25117

Originating Lender

MidWestOne Bank

Originating Lender City

IOWA CITY

Originating Lender State

IA

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

516151.61

Forgiveness Date

03/03/2021

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