# PPP loan: SATEC INC
> **$547K** approved 04/30/2020 · Paid in Full · Loan `4911037307`
## Borrower
- **Name:** SATEC INC
- **Address:** 10 MILLTOWN COURT, UNION, NJ, 07083
- **NAICS:** 423690
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $547K
- **Initial approval:** $547K
- **Forgiven:** $551K (101%)
- **Forgiveness date:** 01/25/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $438K
- **Health care:** $109K
- **Jobs reported:** 34
## Lender
- **Originating:** American Express National Bank
- **Servicing:** American Express National Bank (UT)
---
*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*