As part of the Paycheck Protection Program MODERN ELECTRIC CO was approved for a loan.

The Paycheck Protection Program (PPP) incentivized business owners to continue paying their workers during the pandemic. In late December 2020, a new PPP bill authorized additional funding for the program.

MODERN ELECTRIC CO


Loan Amount	$4,658,625
BusinessName	MODERN ELECTRIC CO
Address	71 CROOKS AVENUE
City	CLIFTON
State	NJ
Zip	7011
NAICSCode	238210
BusinessType	Corporation
RaceEthnicity	Unanswered
Gender	Unanswered
Veteran	Unanswered
NonProfit
JobsReported	150
DateApproved	04/13/2020
Lender	Valley National Bank
CD	NJ-09
BusinessName.clean	MODERN ELECTRIC CO

Data Sources

The data come from a release of over 5 million records by the SBA in November, 2020.

Who Could Apply?

Entities affected by Coronavirus (COVID-19) may have been eligible, including:

Small businesses that met SBA’s size standards
Sole proprietors, independent contractors, and self-employed persons

More info about the PPP is available from the Small Business Administration.

Other Organizations with PPP Loans

MODERN EQUIPMENT COMPANY
MODERN FORGE COMPANIES
MODERN GROUP LTD
MODERN HOLDINGS
MODERN IMPORTS