ARAB ELECTRIC COOPERATIVE, INC. (AL) - 2020 PPP Loan Borrower Profile (# 2849707208)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to ARAB ELECTRIC COOPERATIVE, 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 Alabama.

Loan Detail

Loan Number

2849707208

SBA Office Code

0459

Processing Method

PPP

Curent Loan Amount

$431,990

Date Loan was Approved

Apr 16, 2020

Amount Forgiven

$434,401.94

Date Loan was Forgiven

Nov 12, 2020

Loan Status

Paid in Full

Loan Term

24 Months

Payroll Proced

431,990

Lender

Citizens Bank & Trust

Business Detail

Business Type

Non-Profit Organization

NAICS

221122

Borrower Location

ARAB, AL

Project Location

ARAB, AL

Rural/Urban

Rural

Hubzone

Labor Market Information (LMI)

Jobs Reported

Business Age Description

Existing or more than 2 years old

Data Source: SBA.