# PPP loan: EASTERN CONSTRUCTION & ELECTRIC, INC.
> **$1.01M** approved 05/05/2020 · Paid in Full · Loan `1964707405`
## Borrower
- **Name:** EASTERN CONSTRUCTION & ELECTRIC, INC.
- **Address:** 18 Georgetown Road, Wrightstown, NJ, 08562-1829
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.01M
- **Initial approval:** $1.01M
- **Forgiven:** $1.02M (101%)
- **Forgiveness date:** 07/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.01M
- **Jobs reported:** 45
## Lender
- **Originating:** Hanover Community Bank
- **Servicing:** Hanover Community Bank (NY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*