# PPP loan: EFC SYSTEMS, INC.
> **$540K** approved 04/28/2020 · Paid in Full · Loan `7163237207`
## Borrower
- **Name:** EFC SYSTEMS, INC.
- **Address:** 1851 Clark Road, Havre de Grace, MD, 21078
- **NAICS:** 336111
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $540K
- **Initial approval:** $540K
- **Forgiven:** $547K (101%)
- **Forgiveness date:** 08/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $410K
- **Rent:** $59K
- **Utilities:** $22K
- **Health care:** $49K
- **Jobs reported:** 36
## Lender
- **Originating:** American Express National Bank
- **Servicing:** American Express National Bank (UT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*