# PPP loan: JOULE ELECTRIC INC
> **$170K** approved 08/06/2020 · Paid in Full · Loan `4599388210`
## Borrower
- **Name:** JOULE ELECTRIC INC
- **Address:** 3531 HIGH GATE AVE, CHALFONT, PA, 18914-4422
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $170K
- **Initial approval:** $170K
- **Forgiven:** $172K (101%)
- **Forgiveness date:** 07/26/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $170K
- **Jobs reported:** 6
## Lender
- **Originating:** The Victory Bank
- **Servicing:** The Victory Bank (PA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*