# PPP loan: HAMMEL ELECTRIC INC
> **$250K** approved 04/14/2020 · Paid in Full · Loan `5780647110`
## Borrower
- **Name:** HAMMEL ELECTRIC INC
- **Address:** 483 Us Highway 46, Great Meadows, NJ, 07838-2402
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $250K
- **Initial approval:** $250K
- **Forgiven:** $253K (101%)
- **Forgiveness date:** 07/09/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $200K
- **Mortgage interest:** $25K
- **Utilities:** $25K
- **Jobs reported:** 17
## Lender
- **Originating:** First Hope Bank, A National Banking Association
- **Servicing:** First Hope Bank, A National Banking Association (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*