# PPP loan: MODERN CONTROLS, INC.
> **$2.40M** approved 04/07/2020 · Paid in Full · Loan `7317427002`
## Borrower
- **Name:** MODERN CONTROLS, INC.
- **Address:** 7 Bellecor Drive, NEW CASTLE, DE, 19720-1763
- **NAICS:** 238220
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $2.40M
- **Initial approval:** $2.40M
- **Forgiven:** $2.42M (101%)
- **Forgiveness date:** 06/11/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $2.40M
- **Jobs reported:** 91
## Lender
- **Originating:** Wilmington Savings Fund Society, FSB
- **Servicing:** Wilmington Savings Fund Society, FSB (DE)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*