# PPP loan: POWERTEC COMPANY, INC.
> **$422K** approved 05/01/2020 · Paid in Full · Loan `2208797703`
## Borrower
- **Name:** POWERTEC COMPANY, INC.
- **Address:** 2488 FENDER AVE STE C, FULLERTON, CA, 92831
- **NAICS:** —
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $422K
- **Initial approval:** $422K
- **Forgiven:** $427K (101%)
- **Forgiveness date:** 07/15/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $384K
- **Rent:** $7K
- **Utilities:** $500
- **Health care:** $30K
- **Debt interest:** $1K
- **Jobs reported:** 450
## 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*