# PPP loan: NEWTON ELECTRICAL COMPANY INC
> **$312K** approved 01/22/2021 · Paid in Full · Loan `3890318310`
## Borrower
- **Name:** NEWTON ELECTRICAL COMPANY INC
- **Address:** 48 Mechanic St, Newton Upper Falls, MA, 02464-1436
- **NAICS:** 423610
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $312K
- **Initial approval:** $312K
- **Forgiven:** $314K (101%)
- **Forgiveness date:** 09/09/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $312K
- **Utilities:** $1
- **Jobs reported:** 21
## Lender
- **Originating:** Eastern Bank
- **Servicing:** Eastern Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*