PPP Loan information for American electric equipment inc

$594,000

American electric equipment inc was initially approved for PPP Loan of amount $594,000, the current approved amount is $594,000. The loan was approved on 04/15/2020 by The MCNB Bank and Trust Co. reported 58 jobs and $594,000 was used to fund payroll.

American electric equipment inc is Existing or more than 2 years old

PPP Loan Search / WV / BECKLEY / American electric equipment inc

AMERICAN ELECTRIC EQUIPMENT INC

Date Approved

04/15/2020

SBA Office Code

0390

Processing Method

PPP

Borrower Name

AMERICAN ELECTRIC EQUIPMENT INC

Borrower Address

150 DIXIELAND RD

Borrower City

BECKLEY

Borrower State

WV

Borrower Zip

25801-8070

Loan Status Date

03/09/2022

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

594000.00

Current Approval Amount

594000.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

75431

Servicing Lender Name

MCNB Bank and Trust Co.

Servicing Lender Address

75 Wyoming St

Servicing Lender City

WELCH

Servicing Lender State

WV

Servicing Lender Zip

24801-2434

Rural Urban Indicator

R

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

BECKLEY

Project County Name

RALEIGH

Project State

WV

Project Zip

25801-8070

CD

WV-01

Jobs Reported

58

NAICS Code

423610

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

40000.00

Payroll Proceed

529000.00

Mortgage Interest Proceed

0.00

Rent Proceed

25000.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Subchapter S Corporation

Originating Lender Location Id

75431

Originating Lender

MCNB Bank and Trust Co.

Originating Lender City

WELCH

Originating Lender State

WV

Gender

Male Owned

Veteran

Unanswered

Non Profit

Forgiveness Amount

600847.50

Forgiveness Date

06/10/2021

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