AMERICAN ELECTRIC CO INC (IN) - 2020 PPP Loan Borrower Profile (# 6777167003)
Updated on April 18, 2025.
See below the business details and the detail of the 2020 PPP loan given to AMERICAN ELECTRIC 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 Indiana.
Loan Detail
Loan Number
6777167003
SBA Office Code
0562
Processing Method
PPP
Curent Loan Amount
$362,500
Date Loan was Approved
Apr 7, 2020
Amount Forgiven
$364,523.96
Date Loan was Forgiven
Nov 3, 2020
Loan Status
Paid in Full
Loan Term
24 Months
Utilities Proced
4,252
Payroll Proced
337,916
Rent Proceed
13,000
Health Care Proceed
6,733
Debt Interest Proceed
599
Lender
State Bank
Business Detail
Business Type
Corporation
NAICS
238210
Borrower Location
AVON, IN
Project Location
AVON, IN
Rural/Urban
Urban
Hubzone
No
Labor Market Information (LMI)
No
Jobs Reported
34
Business Age Description
Existing or more than 2 years old
Data Source: SBA.
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