PERFECTVISION MANUFACTURING INC
PPP Loan approved Apr 16, 2020 through Bank of America, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $5,841,252.00 | 100.0% |
About This Loan
PERFECTVISION MANUFACTURING INC received a PPP loan of $5,841,252 approved on Apr 16, 2020. The loan was originated by Bank of America, National Association.
PERFECTVISION MANUFACTURING INC is a corporation located in LITTLE ROCK, Arkansas. At the time of the application, the business was described as "unanswered".
The business operates in the Household Appliances and Electrical and Electronic Goods Merchant Wholesalers industry (NAICS 423620), part of the Wholesale Trade sector of the economy. The applicant reported 391 jobs as retained through this loan.
The SBA forgave $5,935,192.13 of this loan — 101.6% of the total approved amount, with forgiveness recorded on Nov 29, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $5,841,252 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Arkansas, visit the Arkansas page. To compare this loan with others in the same industry, see the Household Appliances and Electrical and Electronic Goods Merchant Wholesalers industry page.