PPP Loan information for Velocity magnetics inc.

$294,896

Velocity magnetics inc. was initially approved for PPP Loan of amount $294,896, the current approved amount is $294,896. The loan was approved on 02/24/2021 by The First Commonwealth Bank reported 22 jobs and $294,896 was used to fund payroll.

Velocity magnetics inc. is Existing or more than 2 years old

PPP Loan Search / PA / New Castle / Velocity magnetics inc.

VELOCITY MAGNETICS INC.

Date Approved

02/24/2021

SBA Office Code

0358

Processing Method

PPS

Borrower Name

VELOCITY MAGNETICS INC.

Borrower Address

200 Green Ridge Rd

Borrower City

New Castle

Borrower State

PA

Borrower Zip

16105-6140

Loan Status Date

04/16/2022

Loan Status

Paid in Full

Term

60

SBA Guaranty Percentage

100

Initial Approval Amount

294895.60

Current Approval Amount

294895.60

Undisbursed Amount

0.00

Franchise Name

Servicing Lender Location Id

60009

Servicing Lender Name

First Commonwealth Bank

Servicing Lender Address

600 Philadelphia St

Servicing Lender City

INDIANA

Servicing Lender State

PA

Servicing Lender Zip

15701-3904

Rural Urban Indicator

R

Hubzone Indicator

N

HLMI Indicator

N

Business Age Description

Existing or more than 2 years old

Project City

New Castle

Project County Name

LAWRENCE

Project State

PA

Project Zip

16105-6140

CD

PA-16

Jobs Reported

22

NAICS Code

335312

Race

White

Ethnicity

Not Hispanic or Latino

Utilities Proceed

1.00

Payroll Proceed

294893.60

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

60009

Originating Lender

First Commonwealth Bank

Originating Lender City

INDIANA

Originating Lender State

PA

Gender

Male Owned

Veteran

Non-Veteran

Non Profit

Forgiveness Amount

297989.98

Forgiveness Date

03/17/2022

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