Date Approved
04/07/2020
SBA Office Code
0358
Processing Method
PPP
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
05/21/2021
Loan Status
Paid in Full
Term
24
SBA Guaranty Percentage
100
Initial Approval Amount
300100.00
Current Approval Amount
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
Servicing Lender Zip
15701-3904
Rural Urban Indicator
R
Hubzone Indicator
N
HLMI Indicator
Business Age Description
Existing or more than 2 years old
Project City
Project County Name
LAWRENCE
Project State
Project Zip
CD
PA-16
Jobs Reported
22
NAICS Code
333517
Race
Unanswered
Ethnicity
Not Hispanic or Latino
Utilities Proceed
6000.00
Payroll Proceed
251600.00
Mortgage Interest Proceed
Rent Proceed
11300.00
Refinance EIDL Proceed
Health Care Proceed
27000.00
Debt Interest Proceed
4200
Business Type
Subchapter S Corporation
Originating Lender Location Id
Originating Lender
Originating Lender City
Originating Lender State
Gender
Female Owned
Veteran
Non-Veteran
Non Profit
Forgiveness Amount
302985.89
Forgiveness Date
03/31/2021