# PPP loan: QUANTUM ELECTRIC CORP.
> **$1.81M** approved 05/01/2020 · Paid in Full · Loan `2472537705`
## Borrower
- **Name:** QUANTUM ELECTRIC CORP.
- **Address:** 36 24 34 ST, LONG ISLAND CITY, NY, 11106
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.81M
- **Initial approval:** $1.81M
- **Forgiven:** $1.83M (101%)
- **Forgiveness date:** 05/21/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.74M
- **Rent:** $52K
- **Utilities:** $6K
- **Health care:** $5K
- **Jobs reported:** 45
## 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*