# PPP loan: NEXGEN POWER SYSTEMS, INC.
> **$769K** approved 04/15/2020 · Paid in Full · Loan `9730997110`
## Borrower
- **Name:** NEXGEN POWER SYSTEMS, INC.
- **Address:** 2010 El Camino Real, Suite 1048, Santa Clara, CA, 95050
- **NAICS:** 334413
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $769K
- **Initial approval:** $769K
- **Forgiven:** $774K (101%)
- **Forgiveness date:** 12/02/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $724K
- **Utilities:** $45K
- **Jobs reported:** 53
## Lender
- **Originating:** Silicon Valley Bridge Bank NA
- **Servicing:** First-Citizens Bank & Trust Company (NC)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*