# PPP loan: PHOENIX ELECTRICAL TECHNOLOGIES, INC.
> **$638K** approved 04/15/2020 · Paid in Full · Loan `8016357104`
## Borrower
- **Name:** PHOENIX ELECTRICAL TECHNOLOGIES, INC.
- **Address:** 7848 Beechcraft Avenue, GAITHERSBURG, MD, 20879
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $638K
- **Initial approval:** $638K
- **Forgiven:** $644K (101%)
- **Forgiveness date:** 02/26/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $638K
- **Jobs reported:** 57
## Lender
- **Originating:** Sandy Spring Bank
- **Servicing:** Sandy Spring Bank (MD)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*