Velocity Magnetics, Inc.
$300,100 PPP Loan in New Castle, Pennsylvania
Loan Details
- Loan Number
- 6551007009
- Date Approved
- Apr 7, 2020
- Loan Status
- Paid in Full
- Initial Approval
- $300,100
- Current Approval
- $300,100
- Forgiveness Amount
- $302,986
- Forgiveness Date
- Mar 31, 2021
- Term
- 24 months
- Draw
- First Draw
Business Information
- Business Name
- Velocity Magnetics, Inc.
- Address
- 200 Green Ridge Rd
- City
- New Castle
- State
- Pennsylvania
- ZIP Code
- 16105-6140
- Business Type
- Subchapter S Corporation
- Industry (NAICS)
- Manufacturing (333517)
- Business Age
- Existing or more than 2 years old
- Jobs Reported
- 22
- Estimated Revenue
- $5.8M
- Rural/Urban
- Rural
- Congressional District
- PA-16
Loan Use Breakdown
- Payroll
- $251,600
- Rent
- $11,300
- Utilities
- $6,000
- Health Care
- $27,000
- Debt Interest
- $4,200
Lender Information
- Servicing Lender
- First Commonwealth Bank
- Originating Lender
- First Commonwealth Bank
Other PPP Loans in New Castle, PA
| Business | Approved | |
|---|---|---|
| Bruce-Merrilees Electric Company | $6,742,052 |  AI Deep Dive |
| Lawrence County Social Services, Inc. | $2,003,600 | AI Deep Dive |
| Blackhawk Neff Inc. | $1,919,537 | AI Deep Dive |
| Blair Strip Steel Company | $1,901,700 | AI Deep Dive |
| Blair Strip Steel Company | $1,857,907 | AI Deep Dive |
Want to research this company further?