# PPP loan: MARINE ELECTRIC SYSTEMS, INC.
> **$442K** approved 04/29/2020 · Paid in Full · Loan `4212347307`
## Borrower
- **Name:** MARINE ELECTRIC SYSTEMS, INC.
- **Address:** 80 WESLEY ST, SOUTH HACKENSACK, NJ, 07606-1510
- **NAICS:** 334516
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $442K
- **Initial approval:** $442K
- **Forgiven:** $446K (101%)
- **Forgiveness date:** 03/08/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $390K
- **Rent:** $42K
- **Utilities:** $10K
- **Jobs reported:** 32
## Lender
- **Originating:** Mississippi River Bank, A Division of Merchants and Marine Bank
- **Servicing:** Merchants & Marine Bank (MS)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*