# PPP loan: ELECTRONIC DRIVES AND CONTROLS INC
> **$721K** approved 01/27/2021 · Paid in Full · Loan `6904568310`
## Borrower
- **Name:** ELECTRONIC DRIVES AND CONTROLS INC
- **Address:** 17 Eastmans Rd, Parsippany, NJ, 07054-3702
- **NAICS:** 335314
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $721K
- **Initial approval:** $721K
- **Forgiven:** $727K (101%)
- **Forgiveness date:** 12/02/2021
- **Status:** Paid in Full
- **Term:** 60 months
## Use of funds
- **Payroll:** $721K
- **Utilities:** $1
- **Jobs reported:** 39
## Lender
- **Originating:** Bank of America, National Association
- **Servicing:** Bank of America, National Association (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*