# PPP loan: TECH ELECTRIC CORPORATION
> **$593K** approved 04/08/2020 · Paid in Full · Loan `7825407003`
## Borrower
- **Name:** TECH ELECTRIC CORPORATION
- **Address:** 1002 Morrisville Parkway, MORRISVILLE, NC, 27560-9365
- **NAICS:** 238210
- **Business type:** Subchapter S Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $593K
- **Initial approval:** $593K
- **Forgiven:** $596K (101%)
- **Forgiveness date:** 11/27/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $593K
- **Jobs reported:** 44
## Lender
- **Originating:** TowneBank
- **Servicing:** TowneBank (VA)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*