PPP Loan information for Nichols power systems company inc

$559,900

Nichols power systems company inc was initially approved for PPP Loan of amount $559,900, the current approved amount is $559,900. The loan was approved on 03/27/2021 by The Sandy Spring Bank reported 22 jobs and $559,900 was used to fund payroll.

Nichols power systems company inc is Existing or more than 2 years old

PPP Loan Search / MD / Sandy Spring / Nichols power systems company inc

NICHOLS POWER SYSTEMS COMPANY INC

Date Approved

03/27/2021

SBA Office Code

0353

Processing Method

PPS

Borrower Name

NICHOLS POWER SYSTEMS COMPANY INC

Borrower Address

508 Olney Sandy Spring Rd

Borrower City

Sandy Spring

Borrower State

MD

Borrower Zip

20860-1009

Loan Status Date

04/06/2023

Loan Status

Paid in Full

Term

60

SBA Guaranty Percentage

100

Initial Approval Amount

559900.00

Current Approval Amount

559900.00

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

30872

Servicing Lender Name

Sandy Spring Bank

Servicing Lender Address

17801 Georgia Ave

Servicing Lender City

OLNEY

Servicing Lender State

MD

Servicing Lender Zip

20832-2233

Rural Urban Indicator

U

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

Sandy Spring

Project County Name

MONTGOMERY

Project State

MD

Project Zip

20860-1009

CD

MD-08

Jobs Reported

22

NAICS Code

238210

Race

Unanswered

Ethnicity

Unknown/NotStated

Utilities Proceed

0.00

Payroll Proceed

559899.00

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

Subchapter S Corporation

Originating Lender Location Id

30872

Originating Lender

Sandy Spring Bank

Originating Lender City

OLNEY

Originating Lender State

MD

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

570469.07

Forgiveness Date

03/14/2023

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