# PPP loan: POWERSPEC INC
> **$210K** approved 04/27/2020 · Paid in Full · Loan `6043257203`
## Borrower
- **Name:** POWERSPEC INC
- **Address:** 25   4TH ST, SOMERVILLE, NJ, 08876-3205
- **NAICS:** 335999
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $210K
- **Initial approval:** $210K
- **Forgiven:** $211K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $210K
- **Jobs reported:** 21
## Lender
- **Originating:** First State Bank of Forrest
- **Servicing:** First State Bank of Forrest (IL)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*