# PPP loan: ALTEK ELECTRONICS INC
> **$1.99M** approved 05/01/2020 · Paid in Full · Loan `7055367704`
## Borrower
- **Name:** ALTEK ELECTRONICS INC
- **Address:** 89 COMMERCIAL BLVD, TORRINGTON, CT, 06790-7215
- **NAICS:** 334515
- **Business type:** Corporation
- **Business age:** New Business or 2 years or less
## Loan
- **Approval amount:** $1.99M
- **Initial approval:** $1.99M
- **Forgiven:** $2.01M (101%)
- **Forgiveness date:** 03/31/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $1.99M
- **Jobs reported:** 165
## 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*