PPP Loan information for Modern electric co

$4,658,625

Modern electric co was initially approved for PPP Loan of amount $4,658,625, the current approved amount is $4,658,625. The loan was approved on 04/13/2020 by The Valley National Bank reported 150 jobs and $4,658,625 was used to fund payroll.

Modern electric co is Existing or more than 2 years old

PPP Loan Search / NJ / CLIFTON / Modern electric co

MODERN ELECTRIC CO

Date Approved

04/13/2020

SBA Office Code

0299

Processing Method

PPP

Borrower Name

MODERN ELECTRIC CO

Borrower Address

71 CROOKS AVENUE

Borrower City

CLIFTON

Borrower State

NJ

Borrower Zip

07011-1011

Loan Status Date

07/14/2021

Loan Status

Paid in Full

Term

24

SBA Guaranty Percentage

100

Initial Approval Amount

4658625.00

Current Approval Amount

4658625.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

45120

Servicing Lender Name

Valley National Bank

Servicing Lender Address

615 Main Ave

Servicing Lender City

PASSAIC

Servicing Lender State

NJ

Servicing Lender Zip

07055-5066

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

CLIFTON

Project County Name

PASSAIC

Project State

NJ

Project Zip

07011-1011

CD

NJ-09

Jobs Reported

150

NAICS Code

238210

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

4658625.00

Mortgage Interest Proceed

0.00

Rent Proceed

0.00

Refinance EIDL Proceed

0.00

Health Care Proceed

0.00

Debt Interest Proceed

0

Business Type

Corporation

Originating Lender Location Id

45120

Originating Lender

Valley National Bank

Originating Lender City

PASSAIC

Originating Lender State

NJ

Gender

Unanswered

Veteran

Unanswered

Non Profit

Forgiveness Amount

3310981.21

Forgiveness Date

06/11/2021

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