# PPP loan: J.W. ELECTRIC CORP.
> **$542K** approved 03/12/2021 · Exemption 4 · Loan `1070658607`
## Borrower
- **Name:** J.W. ELECTRIC CORP.
- **Address:** 1106 E 43rd St, Brooklyn, NY, 11210-3526
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $542K
- **Initial approval:** $542K
- **Forgiven:** $417K (77%)
- **Forgiveness date:** 02/06/2023
- **Status:** Exemption 4
- **Term:** 59 months
## Use of funds
- **Payroll:** $542K
- **Utilities:** $1
- **Jobs reported:** 21
## Lender
- **Originating:** JPMorgan Chase Bank, National Association
- **Servicing:** JPMorgan Chase Bank, National Association (OH)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*