BANNER ELECTRIC, INC. (IN) - 2020 PPP Loan Borrower Profile (# 5431377103)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to BANNER ELECTRIC, 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

5431377103

SBA Office Code

0562

Processing Method

PPP

Curent Loan Amount

$77,800

Date Loan was Approved

Apr 13, 2020

Amount Forgiven

$78,357.57

Date Loan was Forgiven

Jan 4, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

900

Payroll Proced

71,900

Rent Proceed

4,600

Debt Interest Proceed

400

Lender

Lake City Bank

Business Detail

Business Type

Subchapter S Corporation

NAICS

238210

Borrower Location

PLYMOUTH, IN

Project Location

PLYMOUTH, IN

Rural/Urban

Rural

Hubzone

Yes

Labor Market Information (LMI)

Yes

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.