# PPP loan: INDUCTION TECHNOLOGY CORPORATION
> **$228K** approved 03/13/2021 · Paid in Full · Loan `1307288602`
## Borrower
- **Name:** INDUCTION TECHNOLOGY CORPORATION
- **Address:** 22060 Bear Valley Rd, Apple Valley, CA, 92308-7209
- **NAICS:** 333994
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $228K
- **Initial approval:** $228K
- **Forgiven:** $230K (101%)
- **Forgiveness date:** 05/31/2022
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $228K
- **Utilities:** $1
- **Jobs reported:** 13
## Lender
- **Originating:** MidFirst Bank
- **Servicing:** MidFirst Bank (OK)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*