# PPP loan: POWER SYSTEMS ELECTRIC CORPORATION
> **$435K** approved 02/25/2021 · Paid in Full · Loan `4223358508`
## Borrower
- **Name:** POWER SYSTEMS ELECTRIC CORPORATION
- **Address:** 603 Dover Rd Ste 1, Rockville, MD, 20850-1282
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $435K
- **Initial approval:** $435K
- **Forgiven:** $438K (101%)
- **Forgiveness date:** 11/22/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $435K
- **Jobs reported:** 28
## Lender
- **Originating:** Sandy Spring Bank
- **Servicing:** Sandy Spring Bank (MD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*