FUSION TECHNOLOGY LLC
PPP Loan approved Apr 7, 2020 through Pendleton Community Bank, Inc.
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $2,202,492.00 | 100.0% |
About This Loan
FUSION TECHNOLOGY LLC received a PPP loan of $2,202,492 approved on Apr 7, 2020. The loan was originated by Pendleton Community Bank, Inc..
FUSION TECHNOLOGY LLC is a limited liability company(llc) located in BRIDGEPORT, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Computer Systems Design and Related Services industry (NAICS 541519), part of the Professional, Scientific, and Technical Services sector of the economy. The applicant reported 89 jobs as retained through this loan.
The SBA forgave $2,232,602.78 of this loan — 101.4% of the total approved amount, with forgiveness recorded on Aug 30, 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: $2,202,492 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 West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Computer Systems Design and Related Services industry page.