# PPP loan: BEACON CONVERTERS INC
> **$952K** approved 01/26/2021 · Paid in Full · Loan `6248128308`
## Borrower
- **Name:** BEACON CONVERTERS INC
- **Address:** 45 Mayhill St, Saddle Brook, NJ, 07663-5301
- **NAICS:** 322220
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $952K
- **Initial approval:** $952K
- **Forgiven:** $958K (101%)
- **Forgiveness date:** 09/15/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $952K
- **Utilities:** $1
- **Jobs reported:** 98
## Lender
- **Originating:** Valley National Bank
- **Servicing:** Valley National Bank (NJ)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*