BESTWAY ELECTRIC MOTOR SERVICE CO., INC. (AZ) - 2020 PPP Loan Borrower Profile (# 1531597708)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to BESTWAY ELECTRIC MOTOR SERVICE CO., INC.. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in Arizona.

Loan Detail

Loan Number

1531597708

SBA Office Code

0988

Processing Method

PPP

Curent Loan Amount

$455,440

Date Loan was Approved

May 1, 2020

Amount Forgiven

$460,535.61

Date Loan was Forgiven

Jun 17, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Payroll Proced

423,700

Health Care Proceed

31,740

Lender

JPMorgan Chase Bank, National Association

Business Detail

Business Type

Subchapter S Corporation

NAICS

811310

Borrower Location

TUCSON, AZ

Project Location

TUCSON, AZ

Rural/Urban

Urban

Hubzone

Yes

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.