# PPP loan: PRECISION TECHNOLOGIES INC
> **$488K** approved 04/05/2020 · Paid in Full · Loan `5187627005`
## Borrower
- **Name:** PRECISION TECHNOLOGIES INC
- **Address:** 42 WESTECH DR, TYNGSBORO, MA, 01879-2720
- **NAICS:** 332710
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $488K
- **Initial approval:** $500K
- **Forgiven:** $493K (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $468K
- **Mortgage interest:** $10K
- **Utilities:** $10K
- **Jobs reported:** 41
## Lender
- **Originating:** Mechanics Cooperative Bank
- **Servicing:** Mechanics Cooperative Bank (MA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*