# PPP loan: VALMAR ELECTRIC CORP.
> **$256K** approved 05/01/2020 · Paid in Full · Loan `1564117700`
## Borrower
- **Name:** VALMAR ELECTRIC CORP.
- **Address:** 40 OSER AVE STE 2, HAUPPAUGE, NY, 11788
- **NAICS:** —
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $256K
- **Initial approval:** $256K
- **Forgiven:** $258K (101%)
- **Forgiveness date:** 04/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $206K
- **Rent:** $8K
- **Mortgage interest:** $3K
- **Utilities:** $2K
- **Health care:** $27K
- **Debt interest:** $9K
- **Jobs reported:** 11
## 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*