# PPP loan: ELECTROMECHANICAL RESEARCH LAB
> **$1.16M** approved 04/07/2020 · Paid in Full · Loan `6742467010`
## Borrower
- **Name:** ELECTROMECHANICAL RESEARCH LAB
- **Address:** 2560 CHARLESTOWN RD, NEW ALBANY, IN, 47150-2557
- **NAICS:** 541330
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $1.16M
- **Initial approval:** $1.16M
- **Forgiven:** $1.17M (101%)
- **Forgiveness date:** 05/26/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.16M
- **Jobs reported:** 96
## Lender
- **Originating:** Republic Bank & Trust Company
- **Servicing:** Republic Bank & Trust Company (KY)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*