# PPP loan: ARTEL VIDEO SYSTEMS CORPORATION
> **$502K** approved 04/30/2020 · Paid in Full · Loan `7532437302`
## Borrower
- **Name:** ARTEL VIDEO SYSTEMS CORPORATION
- **Address:** 5 Lyberty Way, Westford, MA, 01886
- **NAICS:** 334220
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $502K
- **Initial approval:** $502K
- **Forgiven:** $509K (101%)
- **Forgiveness date:** 09/20/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $376K
- **Rent:** $63K
- **Utilities:** $63K
- **Jobs reported:** 23
## Lender
- **Originating:** Celtic Bank Corporation
- **Servicing:** Celtic Bank Corporation (UT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*