ADVANCED ELECTRIC INC (WV) - 2020 PPP Loan Borrower Profile (# 8792837305)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to ADVANCED 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 West Virginia.

Loan Detail

Loan Number

8792837305

SBA Office Code

0390

Processing Method

PPP

Curent Loan Amount

$90,500

Date Loan was Approved

May 1, 2020

Amount Forgiven

$91,201.38

Date Loan was Forgiven

Feb 11, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

2,500

Payroll Proced

72,000

Mortgage Interest Proceed

16,000

Lender

Burke and Herbert Bank and Trust Company

Business Detail

Business Type

Corporation

NAICS

238210

Borrower Location

ELKVIEW, WV

Project Location

ELKVIEW, WV

Rural/Urban

Urban

Hubzone

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.